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Brits who earn more than a specific amount could be targeted by Rachel Reeves at the Budget later this month, according to reports. The Chancellor is looking for ways to increase taxes and it has been suggested she may go after people earning £46,000 or more. "Working people" may be defined as those in the bottom two-thirds of earnings, which equates to a salary of £45,000 or less, the Daily Mail has reported. READ MORE: HMRC deducting £300 from state pensioners' bank accounts from Saturday Get our best money saving tips and hacks by signing up to our newsletter It follows Labour promises to protect ordinary "working people" by not hitting them with income tax, VAT or National Insurance rises. Prime Minister Keir Starmer refused to rule out hikes to these three taxes this week. Tory Shadow Business Secretary Andrew Griffith claimed the Chancellor was planning to “further massacre the take-home pay of millions of hard-working middle earners”, Express reports . He added: “While boosting the pay of their union paymasters, Labour don't understand or care about those who get up and work hard to make a better life.” There has also been speculation about other tax rises at the Budget on November 26. There have been reports of a possible raid on pension perks for higher earners and a 20% charge on Brits leaving the UK for lower taxes, which would raise an estimated £2 billion. It follows claims that as many as 16,500 millionaires would leave the UK this year in response to tax hikes. A Treasury spokesman said: “We do not comment on speculation around tax changes outside of fiscal events.” Starmer said earlier this week: "The Budget is on the 26th of November and we will lay out our plans but I can tell the House now we will build a stronger economy, we will cut NHS waiting lists and deliver a better future for our country." He added: "No Prime Minister or Chancellor will ever set out their plans (for the Budget)."
