Angela rayner pushed for £4bn tax raid on savers in lead up to spring statement


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Angela Rayner is said to have campaigned for a £4bn tax increase on wealthier UK residents ahead of the Spring Statement, indicating a high-level split within the Cabinet over economic


strategy. It's reported by The Telegraph that they have seen a leaked document where the Deputy Prime Minister pressured the Chancellor to enact billions in tax hikes targeting savers,


as reported by City AM. The proposals reportedly included terminating inheritance tax relief for AIM shares, incrementing taxes on dividends, and restoring the pensions lifetime allowance –


suggesting these could compensate for the government's withdrawal of £5bn in welfare cuts. This potential tax hike would generate an estimated £3bn to £4bn, the note stated. Rayner now


stands as a prominent Labour Party member voicing discomfort with the current administration's public spending cuts. Despite internal pressure from Labour colleagues urging her to


dilute cost-saving measures, indications from Oxford Economics' Andrew Goodwin suggest that Reeves might need deeper cuts to adhere to her fiscal rules. Later today, Work and Pensions


Secretary Liz Kendall is scheduled to speak at the Institute for Public Policy Research (IPPR), defending her welfare strategies which she earlier referred to as a "moral mission"


for this government. Today, at Prime Minister's Questions, Starmer is set to face off against Conservative leader Kemi Badenoch, where internal divisions within his own party could


become the focal point. CORBYN'S LABOUR? Shadow Chancellor Mel Stride has criticised the leaks as a sign that "we are still living with the Labour Party of Jeremy Corbyn." He


further commented: "At the very highest level, Labour ministers are debating which taxes to increase next." "The Chancellor has repeatedly refused to rule out another tax raid


in the autumn, and now we know why – Labour's top brass, including the Deputy Prime Minister, want to come back for more." Rayner, a figure from the left wing of the party,


ascended rapidly to the shadow cabinet as a supporter of Jeremy Corbyn following a departure of moderate Labour figures from the frontbench in 2016. Despite initial clashes with Starmer in


opposition after her deputy leadership bid in 2020 – notably, her removal as Labour Party chair in 2021 – these leaks represent the most significant division yet since Labour assumed power


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