By James Sorene

Would you pay another £21 a month to help fix the British economy?

That is how much extra income tax the average worker will pay if Chancellor Rachel Reeves goes ahead with rumoured plans to break Labour’s pre-election promise.

Higher earners will pay more and those earning less than £12570 pay nothing. It would raise about £8 billion.

Chancellors often break election campaign promises, in the last decade both Rishi Sunak and George Osborne did it.

So what is all the fuss about?

The rising cost of living is biting deeper into household budgets and largely responsible for the Government’s low poll ratings. Businesses are still reeling from national insurance increases imposed on them last year whilst having to absorb higher prices, higher operating costs and paying workers higher salaries.

The hard numbers for the UK are really grim. The economy is barely growing (0.1%), inflation is high (4.8%) and productivity is flat (-0.6%). The Government doesn’t have enough money so has to borrow more to pay its bills and the........

© LBC