Rayner's secret memo to Rachel Reeves is leaked – complete list of requirements Politics | News

Angela Rayner's full memo to Rachel Reeves, which was released at the beginning of this week, was completely published. It contains all the details of what the deputy prime minister has proposed behind closed doors.

The memo with a series of suggestions was submitted in mid -March before the Chancellor unveiled her spring declaration on March 26. The Telegraph, which received the documents, is said that 10 suggestions were made in the text – including eight tax increases and two changes in benefit.

1. Increases the bank surcharge to 5%

Ms. Rayner proposed to increase the bank surcharge to 5%. When corporation tax increased in April 2023, the previous Chancellor lowered the banking surcharge paid by banks for profits from 8% to 3% as an offset measure.

A surcharge to 5% could continue to increase 500 to 700 million GBP per year and withdraw the tax rate of banks from around 30% for their profit from 2008.

2. Remove the inheritance tax relief for AIM shares

Sir Keir Starrer's second command completely demanded the removal of inheritance tax (IHT) for AIM shares.

As a “not listed” stocks (especially AIM shares), 50% get a relief (reduced by 100% relief in the autumn budget).

Full removal of the relief for AIM shares could increase between 100 million GBP and 1 billion a year.

3 .. Remove the dividend allowance

The memo also called for the removal of the dividend allowance. The tax is not paid for dividend income that income in the personal allowance of a person. There is also a dividend payment of £ 500 every year.

It has been reduced from 2,000 to 500 GBP in recent years, but the removal of £ 325 million per year.

4. Freeze the income tax threshold

Ms. Rayner also called for freezing the additional interest income tax threshold. The additional interest rate of income tax (45%) applies to income over 125,140 GBP.

The Chancellor announced that the income tax thresholds will remain frozen by 2028 before they are brought into the route.

5. Increase the annual tax on apartments

The memo made another point of an annual tax for enveloped apartments.

It was said: “The annual tax on enveloped apartments could be increased. Our main arguments for increasing this tax are (i) let us put money on the table by putting them too low, potentially around 100-200 m per year; and (II) the people who pay almost exclusively in Big Homes in Big Homes in Big Homes in Big Homes in Big Homes in London Postcodes, in London and over 7 years in London and over 7 years Years in the years and over 7 years over the years.

6. closure of the stamp start flap

The sixth point was to close the stamp service gap in the trade. In the memo it was proposed that it could increase up to £ 1 billion a year from the commercial property market. It added that it was “an obvious gap” that “cannot explain to the public”.

7. Back the lifespan of the pensions, experience the lifespan

The list added a higher relocation and additional interest rate tax, which approached the income tax in more detail and the lifespan of the pensions was restored.

Forer Chancellor Jeremy Hunt in March 2023 announced the abolition of the lifespan of the pensions.

It is assumed that the memo said: “The life of life was a limitation of the overall value that the private pensions of an individual could achieve before high tax rates were applied. An option would be easy to restore the prior level of the previous level of 1,073.100 GBP. If it costs the reform. 1.8 million GBP set, although this would increase less than 800 m.

8. Reversing of the children's suffering fee

Two other suggestions for potential considerations, but it would be more controversial and would last longer to change the changes to the performance fee with high incomes and tightening the migrant to the welfare system.