Business & Politics · 4 Beginner · October 20, 2026

Chancellor Keeps Tax Rate the Same

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Vocabulary

raise taxes reɪz ˈtæksɪz verb phrase

to increase the amount of money that people must pay to the government

Some politicians want to raise taxes on rich people to get more money for the government.

shares ʃɛrz noun

small equal parts of ownership in a company that people can buy and sell

When you sell shares in a company, you must pay a tax on the money you make.

Chancellor ˈtʃænsələr noun

the government official who decides about money, taxes, and the country's finances

Chancellor John Healey decided not to raise the tax on selling houses and shares.

disagrees with ˌdɪsəˈɡriz wɪð verb phrase

to have a different opinion from someone; to not agree with someone

The Chancellor disagrees with other officials who want to raise the tax.

invest ɪnˈvɛst verb

to put money into something like a business or property with the hope of making more money

The Chancellor wants people to invest in Britain by starting businesses and buying property.

wealth wɛlθ noun

a large amount of money or valuable things that someone owns

The government believes it should help people create wealth through business and investment.

Article

The UK government needs money. Some politicians want to raise taxes on rich people. They want to tax the money people make when they sell things like shares or houses. Right now, this tax is lower than other taxes. The Chancellor is the person who decides about money and taxes.

Why Not Raise This Tax?

Chancellor John Healey says no to raising this tax. He thinks raising it is a bad idea. Rich people might leave the country. If they leave, the government loses money, not gains it. Some important government officials wanted to raise the tax. But now the Chancellor disagrees with them.

What Do Experts Say?

A famous banker warns that raising this tax sends a wrong message. He thinks it tells businesses the country is not good for them. The Chancellor wants people to make money and invest in Britain. He thinks the government should help people create wealth. So the government will keep the tax the same.

Discussion Questions

What does the Chancellor think will happen if taxes go up?
Why do some politicians want to raise this tax?
What does the government want businesses to do in Britain?
Who is Chancellor John Healey?
Do you think raising taxes helps or hurts a country?

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