Labour has ruled out some tax increases, but is targeting others

Forecast UK government receipts by tax type for 2024-25, categorised by Labour’s stance

Ruled out by Labour £683bn

Income tax

£303bn

VAT* £176bn

Corporation tax £101bn

Employee NICs £56bn

Council tax £47bn

Possible changes £209bn

Employer NICs

£113bn

Business rates £32bn

Fuel duties £25bn

Capital gains £15bn

Property taxes £14bn

Inheritance tax £8bn

Energy profits levy £2.2bn

Not clear £126bn

Other minor

taxes

£126bn

Other £123bn

Other receipts

£123bn

Ruled out by Labour

£683bn

Income tax

£303bn

VAT* £176bn

Corporation tax £101bn

Employee NICs £56bn

Council tax £47bn

Possible changes

£209bn

Employer NICs

£113bn

Business rates £32bn

Fuel duties £25bn

Capital gains £15bn Property taxes £14bn

Inheritance tax £8bn Energy profits levy £2.2bn

Not clear

£126bn

Other minor taxes

£126bn

Other

£123bn

Other receipts

£123bn