- Deputy Prime Minister Angela Rayner reportedly suggested tax increases for savers in a memo to Chancellor Rachel Reeves ahead of the spring statement.
- The proposals included reinstating the pensions lifetime allowance and changing dividend taxes, potentially raising £3-4 billion annually, according to a report in The Telegraph.
- These suggestions contradict the Chancellor's stance against tax rises to fund Government policies.
- Ms Rayner's memo also reportedly floated other tax adjustments, such as closing a commercial property stamp duty loophole and increasing the bank surcharge.
- A Government source said that such discussions are routine and not necessarily endorsements of specific proposals.
IN FULL
Rayner ‘suggested tax raid on savers’ to Reeves ahead of spring statement
