UK Savers, Landlords Start to Feel Labour Heat: Ashworth & Trow

Chancellor of the Exchequer Rachel Reeves resisted the pressure from her own party for onerous wealth taxes in her first budget, as she focused revenue raising on business. Nevertheless, her shakeup of the UK fiscal landscape will still have profound implications, not only for the super wealthy but for the merely affluent.

That Reeves didn’t reduce either the tax breaks or the annual amounts that can be saved into a personal pension scheme of £60,000 ($78,000), or £20,000 each for a married couple into tax-free Individual Savings Accounts merits a sigh of relief. Nor did she alter the tax breaks on startup or early-stage corporate investments. ...