Chancellor defends NI tax hike

This is a Yorkshire news story, published by Yahoo News Canada, that relates primarily to Rachel Reeves news.

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tax increases

BBC

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Reeves 'not immune' to criticism over NI hike

Summary

Nutrition label

81% Informative

Rachel Reeves defends increasing taxes for employers in last week's Budget .

She says she is "not immune" to criticism but money must be raised to put public finances on a "firm footing" New Conservative leader Kemi Badenoch criticised the move, saying it would "make all of us poorer" The NI rise for employers is set to raise 20bn a year making it one of the biggest single tax-raising measures in history.

Changes to the rules around inheritance tax have come under fire since they were announced in the Budget .

From April 2026 inherited agricultural assets worth more than 1 m will have to pay inheritance tax at 20% - half the usual rate.

Rebecca Wilson , a fifth -generation farmer from Yorkshire , told Laura Kuenssberg programme their farm could be facing a tax bill of nearly 1 m when her parents died.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

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not offensive

Hate speech

not hateful