Rachel Reeves is reportedly considering raising income tax in November’s Budget , in a bid to help plug the rumoured £40bn “black hole” in the nation’s finances.

Yet, given the Labour Party pledged not to raise the rate of income tax in its election manifesto last year, such a decision could be politically damaging. So, should Rachel Reeves raise income tax? The i Paper’s experts give their verdict.

Hugo Gye: Bite the bullet now

Raising income tax would not be easy for Rachel Reeves. But it is her least bad option.

The Chancellor, like her Conservative predecessor Jeremy Hunt, has been sailing close to the wind on the public finances, maxing out the borrowing she is allowed under her self-imposed fiscal rules.

The bond markets have punished her with higher borrowing costs, which fur

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