Chancellor Rachel Reeves is reportedly considering various tax hikes in her upcoming Budget to address a £40 billion fiscal shortfall. Proposed changes include raising taxes on entrepreneurs selling their businesses and extending the freeze on income tax thresholds, which could pull up to a million people into higher tax brackets. Reeves is also contemplating a new tax on vaping products, which could raise significant revenue as part of a broader health initiative aimed at reducing youth vaping. Additionally, there are rumors of potential alterations to inheritance tax exemptions, which could affect how pensions are passed on. Critics have raised concerns that these measures may harm the UK’s entrepreneurial environment and contradict Labour's prior pledges against raising taxes. The final details are expected to be revealed on 30 October.