Labour Party Maintains Stance on Tax Pledges Amid Budget Speculations

The UK Labour Party reaffirms its commitment to existing tax pledges prior to elections, with minister Nick Thomas-Symonds dismissing speculations about changes in income tax plans. The statement comes as finance minister Rachel Reeves evaluates potential fiscal adjustments to address a looming budget deficit.

The UK's ruling Labour Party has reiterated its adherence to pre-election tax strategies, explicitly including income tax policies. Minister Nick Thomas-Symonds confirmed this steadfast position during an interview with Sky News.

These remarks follow a report suggesting finance minister Rachel Reeves might raise income tax in the upcoming budget to tackle a significant budgetary shortfall.

The Labour Party's firm resolve comes amid looming financial challenges, as scrutinizing eyes turn to the next month's budget proposals.

(With inputs from agencies.)