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Chancellor Rachel Reeves is preparing to deliver the Labour Party Government's Autumn Budget.

Speculation is continuing to rise over who or what she will target in an effort to fill the £20 billion black hole Prime Minister Sir Keir Starmer has vowed to tackle.

High earners could see almost £50,000 wiped off their retirement pots if the Chancellor caps popular salary sacrifice schemes

READ MORE: Rachel Reeves 'could scrap' driving rule in place since 2022 hitting millions 'immediately'

Employees can use the scheme to pay up to £60,000 a year tax-free into their pension.

However, Reeves is expected to cap the tax break at £2,000 a year, meaning any higher contributions would be subject to National Insurance.

Those earning under £50,270 would face an 8 per cent Natio

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