Muppetsdad

A car crash interview by Chief Secretary to the Treasury Emma Reynolds in which she claimed that both employers are not working people and that the additional tax that Labour have just levied on savers and landlords "is not the same as income tax". That's completely untrue. The tax on savings and property income is indeed income tax, which of course Labour promised not to increase in its election manifesto. The congenital liar Reeves even specifically confirmed that savers are working people under Labour's definition, saying in 2024 "there are people who do have savings, who have been able to save up and those are working people as well."

Labour's increase in income tax on property and savings income is a direct breach of its manifesto commitment not to raise income tax. "Labour will not increase taxes on working people, which is why we will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT," was the precise wording in the manifesto, yet Labour will now increase income tax by 4% on property and savings income. Rachel Reeves made it clear in 2024 that savers were "working people", saying "there are people who do have savings, who have been able to save up and those are working people as well." It's a clear breach of the central promise on which they were elected.