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An income tax raid from Labour Party Chancellor Rachel Reeves is threatening to cost workers in the Autumn Budget. Workers could see their tax bill rise by £100s if Ms Reeves pushes ahead with plans to hike income tax on November 26.

Ms Reeves reportedly said she would “continue to support working people by keeping their taxes as low as possible” but was still “going through the process” of writing the Budget.

The Chancellor said: “Although I can’t talk about individual measures at this stage, I understand that the cost of living is still people’s number one concern.” Her options reportedly include raising the basic rate of income tax by 1p, with the move helping to raise around £8billion.

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