SIMON LAMBERT: Why Rachel Reeves’ Budget may spell bad news for your pay packet – the income tax hike explained

The budget is coming up and the Chancellor, Rachel Reeves, needs to balance Britain’s books. That could spell bad news for your pay packet.

There are rumours that income tax could go up to fill an estimated £20 billion black hole that Reeves needs to fill to meet her fiscal rules. 

Watch the video above.