Labour has no tax surprises in election campaign, Rachel Reeves says

Shadow chancellor rules out snap budget if Labour wins power, saying it will await OBR forecasts

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Rachel Reeves has promised Labour will not announce any additional tax measures beyond what the party has already promised, and said there would be no budget until September if it won the election.

The shadow chancellor said Labour’s election campaign would not include any surprise measures. The party has ruled out increases to income tax, national insurance, corporation tax or any form of wealth tax.