Angela Rayner secret tax memo to Rachel Reeves: could these tax hikes become a reality?

As details emerge of a memo sent by Rayner to Reeves calling for a £4 billion tax raid on savers and investors, experts fear some of them might make an appearance in the Autumn Budget

Angela Rayner, Deputy Prime Minister of the United Kingdom
(Image credit: Ryan Jenkinson/Getty Images)

Details of a secret memo sent by deputy prime minister Angela Rayner to chancellor Rachel Reeves calling for up to £4 billion of tax hikes have been called a “bitter blow for savers and investors” if the government decides to implement them in the future.

The memo was sent prior to this year’s Spring Statement, according to a report by The Telegraph. It proposed eight tax increases including reinstating the pensions lifetime allowance and changing dividend taxes.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.