Income Tax Hike Incoming

Picture by Simon Dawson / No 10 Downing Street.

Raising income tax significantly lessens the pound's vulnerabilities.

A definite supportive development for the under-fire pound has emerged on Wednesday, after Sir Keir Starmer effectively dropped his opposition to raising income tax.

When questioned if he would raise income tax in weekly Prime Minister's Questions, Starmer refused to rule it out.

Political commentators say this more than likely means the UK will see income tax raised in November.

"Starmer all but confirms Rachel Reeves is hiking income tax next month," says Daily Express correspondent Christian Calgie.

"Big moment at PMQs," says ITV's Robert Peston. "Keir Starmer refused to say he would stand by Labour’s manifesto promise not to raise income tax, national insurance, V