Cut national insurance and hike income tax to meet fiscal rules, think tank says

Rachel Reeves is expected to implement significant tax rises in November’s Budget as she battles to meet her fiscal rules. (Stefan Rousseau/PA) - (PA Wire)

Rachel Reeves should cut national insurance and increase income tax to create a “level playing field” and protect workers’ pay, a think tank has said.

In a report published on Tuesday, the Resolution Foundation said the Chancellor should send a “decisive signal” that she will take “tough decisions” on tax to calm jittery bond markets.