Keir Starmer Signals Potential Tax Increases

In a recent speech, UK Prime Minister Keir Starmer outlined the need for 'painful' tax increases in light of a £22 billion black hole in public finances, a situation he attributes to the previous Conservative government. Starmer emphasized that while income tax, National Insurance, and VAT will not see increases, wealthier individuals may face higher capital gains and inheritance taxes, as well as potential new wealth taxes. He acknowledged the challenges ahead, stating, 'Things will get worse before they get better,' while positioning the Labour government as needing to make tough choices. Critics like Suella Braverman allege that Starmer's warnings signal a move towards draconian tax policies and blame-shifting from the Conservatives. Public response to these potential tax hikes remains uncertain as the government prepares for the October budget, which Starmer has described as crucial for long-term recovery.