Rayner urged Reeves to consider wealth tax rises before spring statement

Memo from deputy PM to chancellor proposing eight potential measures highlights unease over spending plans

Angela Rayner urged Rachel Reeves to consider a series of wealth tax rises, it has been revealed, in a move that underscores growing unease within the government over the chancellor's tight spending plans.

A memo sent by the deputy prime minister to the chancellor before March's spring statement proposed eight potential tax measures worth an estimated 3bn to 4bn a year, including reinstating the pensions lifetime allowance and increasing the corporation tax rate for banks.