[Cherie]

Don't save, don't build a pension, don't buy a home - it's all Rachel Reeves's money now

Your money is no longer your own. It belongs to the Chancellor, and she's after even more of it.

Rachel Reeves has her eyes on your wallet. Just hand it over… (Image: Getty)
Last October, I wrote a half-serious apology to readers. I said I’d been wrong to encourage people to save, invest and put money aside for the future. The reason? PM Sir Keir Starmer had just redefined what it means to be a “working person”, and it was terrifying
He labelled a working person is someone who earns a living but does not have the ability to “write a cheque to get out of difficulties”. The definition was old-fashioned even then. Nobody writes cheques these days, except maybe Labour donors, but the message was clear.

f you had a spot of money in the bank, enough to draw a cheque on, you no longer qualified as “working people”. You were fair game.

Ten months later, the implications are brutally clear. Anyone with even modest assets has been lined up for attack.

In her last Budget, Rachel Reeves hiked capital gains tax (to be fair, Tory predecessor Jeremy Hunt showed her the way) and slapped inheritance tax on unused pensions.

This autumn she’ll be back for more. Labour MPs won’t allow her to cut public spending. Her only option is to squeeze more tax from the middle class. That’s their reward for doing everything I’d been urging them to do for more than three decades as a finance journalist: save, invest, take out a mortgage and buy a home.

How wrong I was

https://www.express.co.uk/finance/pe...vess-money-now
The Express