It comes as Ms Reeves prepares to deliver a Budget in November that is widely expected to see significant tax rises as she battles to meet her fiscal rules. Among the tax changes proposed by the Resolution Foundation was a 2p cut in national insurance, matched by a 2p rise in income tax. The think tank argued that the switch would raise £6 billion and help tackle “unfairness” in the tax system, as income tax is paid by more people including pensioners and landlords. “Significant tax rises will be needed for the Chancellor to send a clear signal that the UK’s public finances are under control. A Treasury spokesperson said: “The Chancellor makes tax policy decisions at fiscal events.