Rachel Reeves is reportedly preparing to scrap a key tax exemption in her upcoming Budget, delivering another financial blow to families.

Rachel Reeves has said that “main taxes on working people” will not rise in the Budget. She gave the reassurance a week before she delivers her first Budget, and the first by a woman Chancellor. But her words left the door open to a raft of other tax rises, many of which could hit London hard.

British finance minister Rachel Reeves faces a tough task to raise the tax revenues she needs to invest more in public services and new infrastructure in her Oct. 30 budget. With the tax burden at its highest since just after World War Two,