New taxes in the next budget - Letter to Editor of The Times

Wiktor Moszczynski 27 Oct 2025, 20:29 (2 days ago) to letters Dear Editor, On reading your correspondent's latest researched speculation on the next Budget ("Reeves looks at spending cuts as well as tax rises" 28.10.25) it is clear that while the Chancellor and Prime Minister are desperately seeking to find the best economic solution to the current budgetary dilemma, both Rachel Reeves and Sir Keir Starmer have run out of political road. They want and understand what is best for the U.K. economy, but politically they cannot satisfy the hedge funds, the unions, the Labour Party and the electorate at large with a solution they would satisfy all. Sir Keir has always been an honourable man, with a deep commitment to public service, but unfortunately a poor politician. But he and the Chancellor can make up for their past mistakes, which only compounded the toxic legacy left them by the Tories, by opting for a 2p increase in income tax, and then acknowledging honestly that they have been forced, despite a heroic effort, to break their electoral promise, and to fall on their sword and offer to resign. This would still give the Labour Party ample time and opportunity to elect a fresh new leader free of the ballast of keeping an impossible electoral promise. It would stabilize the economy, give the future government more headroom for emergencies and a chance for Labour to challenge the fringe populists on the right and the left. Yours faithfully, Wiktor Moszczynski Published in The Times 29.10.2025