Rachel Reeves told to 'target wealthy pensioners' before it's too late

Chancellor Rachel Reeves has been urged to target wealthy pensioners to ease pressures on the public purse and allow infrastructure investment pledges to be protected She has been warned (Image: WPA Pool, Getty Images)

Chancellor Rachel Reeves should focus on affluent pensioners to alleviate strain on the public purse and safeguard infrastructure investment commitments, leading economists and former ministers have argued. ‌

Former Cabinet secretary Gus O'Donnell, ex-Tory minister and Goldman Sachs executive Jim O'Neill, and prominent economists including Mariana Mazzucato have called on the government to "rebalance" the tax system to finance spending promises. ‌

It is broadly anticipated that Reeves will need to generate at least £25bn – and possibly as much as £50bn – t