Reynolds says employers are not working people

Politics · First reported 1 Nov, 12:25 · Updated 12:31

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Treasury chief secretary Emma Reynolds defended the government’s distinction between employers and working people amid criticism over tax changes and Labour’s manifesto pledge.

Reynolds said she does not consider employers to be working people, describing them as companies.
Labour’s 2024 manifesto pledged not to raise income tax, employee National Insurance or VAT for working people; critics argue employer tax changes and frozen thresholds undermine that pledge.
The article says tax rates on savings interest and property income are due to rise from April 2027, while Reynolds described the Budget’s tax increases as targeted and fair.

Summary written by Lux AI from 2 articles

Key facts

Minister: Emma Reynolds, chief secretary to the Treasury
Manifesto: Labour’s 2024 manifesto pledged not to increase income tax, employee National Insurance or VAT for working people.
Savings and property income rates: From April 2027, the article reports rates of 24% for basic-rate payers, 44% for higher-rate payers and 49% for additional-rate earners.
Business Asset Disposal Relief: The article says the relief was reduced from £1 million to £500,000.