How a 1p rise in income tax could hit you - with average workers paying £224 extra a year

Rachel Reeves is considering an increase to income tax , according to reports.

The Labour Party pledged not to raise the rate of income tax in its election manifesto last year, but is reportedly considering a 1p rise to the basic rate at November’s Budget .

It comes after The i Paper reported on Wednesday that Labour figures had been pushing the Chancellor to break with the party’s manifesto commitment . New Feature

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Economists have also suggested an increase to income tax is the best way to raise the revenue Reeves needs to fill the black hole in the public finances.

Below are the different ways Reeves could raise income tax, how much they would cost you, and how much each would raise.

How income tax works

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