Rachel Reeves has declined to rule out raising income tax at next month’s Budget, according to reports.

The Chancellor has previously insisted that Labour’s manifesto commitment not to raise income tax, national insurance or VAT “stands” when questioned about how she will bridge a fiscal black hole in November.

But asked about reports the Treasury was considering an income tax hike, the BBC said Ms Reeves told reporters on Friday she would “continue to support working people by keeping their taxes as low as possible” but was still “going through the process” of writing the Budget.

The Chancellor said: “Although I can’t talk about individual measures at this stage, I understand that the cost of living is still people’s number one concern.”

Ms Reeves is widely expected to use the Budget to increase taxes once again, with the Institute for Fiscal Studies estimating she needs to find £22 billion of tax rises or spending cuts to meet her self-imposed fiscal rule.

The gap comes as a result of higher borrowing costs, weak growth and an expected downgrade to official productivity forecasts, although recent better-than-expected inflation figures have eased the pressure slightly.

Raising the basic rate of income tax by 1p could raise around £8 billion, but would break a clear manifesto pledge.

It would also be the first time the basic rate has been increased since the 1970s.

The Chancellor is also reported to be considering cutting the amount of money people can save in cash Isas as part of a drive to encourage investment in stocks and shares.

It is understood that no decision has yet been made and several options are being considered, including halving the allowance from £20,000 to £10,000.

Treasury minister Lucy Rigby told the Telegraph the Government was “looking at the right balance between cash and shares in the Isa”.

She said: “The bottom line is, we want people to be better off and one way we can do that is to build a shareholding democracy in this country.”

Meanwhile, The Times reported that the Chancellor would use the Budget to increase the minimum wage once again, and make further moves towards abolishing lower minimum wage rates for younger people.

The Social Security administration on Friday announced that its benefits will increase by 2.8% in 2026, giving retirees an average monthly boost of more than $56. The rise reflects moderating inflation after several years of higher cost-of-living adjustments (COLA).The increase will take effect in January for nearly 71 million Social Security recipients, while about 7.5 million people receiving Supplemental Security Income will see higher payments starting December 31.The announcement, which was scheduled for last week, was delayed due to the US federal government shutdown.Recipients saw a 2.5% increase in 2025 and a 3.2% rise in 2024, following a historic 8.7% jump in 2023 driven by record-high inflation. The COLA is funded by payroll taxes collected from workers and employers, up to an annual salary cap that will rise to $184,500 in 2026 from $176,100 in 2025.Social Security Administration Commissioner Frank Bisignano said in a statement that the annual adjustment “is one way we are working to make sure benefits reflect today’s economic realities and continue to provide a foundation of security.” However, many seniors believe the increase won’t be enough to meet rising living costs, reported AP.Polling from AARP shows that many older Americans share that concern. Only 22% of Americans over 50 believe a COLA of around 3% is enough to keep up with inflation, while 77% disagree. According to the MIT Living Wage Calculator, a single adult living in Florence, South Carolina, spends about $10,184 annually on housing, $3,053 on medical expenses and $3,839 on food.Emerson Sprick, director of retirement and labor policy at the Bipartisan Policy Center, said in a statement that cost-of-living increases “can’t solve all the financial challenges households face or all the shortcomings of the program.”The latest adjustment comes as the Social Security Administration faces internal challenges and uncertainty about the program’s long-term future. In July, Treasury Secretary Scott Bessent said the Republican administration was committed to protecting Social Security, hours after comments suggesting that a new children’s savings program signed by President Donald Trump was “a back door for privatising Social Security,” as quoted by AP.

Vande Bharat In Black Coming Soon? A video showing a sleek black-coloured Vande Bharat Express has gone viral on social media, with many users claiming it to be the upcoming rake featuring modern facilities. The train in the black livery shown in the video has drawn widespread attention for its striking appearance, reminiscent of the classic Rajdhani Express design with its large windows and aerodynamic finish.

However, fact-checks reveal that the viral video is AI-generated and not an official design or prototype of any new Vande Bharat train.

Currently, the Vande Bharat Express operates in two colour variants — the original white-and-blue and the newer orange-and-grey (orange-black) design introduced earlier this year. The purported “black edition” seen in the viral clip does not exist in reality.

From design to delivery, made entirely in India!

The new Vande Bharat Sleeper Coach captures the true spirit of Aatmanirbhar Bharat and Make in India.

A sleek symbol of innovation, comfort, and national pride, built not just to run on tracks, but to drive India’s confidence… pic.twitter.com/xgH2ZK59Rg
— Satya Kumar Yadav (@satyakumar_y) October 24, 2025

Upon closer inspection, several inconsistencies confirm the video’s artificial origin. The front nose of the train bears the text “Vande Bharat 2003,” even though the first Vande Bharat Express was officially launched only in 2019. Moreover, the side panels of the train display distorted and unreadable text, a common artifact in AI-generated visuals.

India’s first Vande Bharat Sleeper Train — a perfect blend of comfort, speed & technology

Fully Made in India. The new face of Aatmanirbhar Bharat pic.twitter.com/Ew9oBoUF6i
— Megh Updates (@MeghUpdates) October 24, 2025

Experts note that such synthetic videos, created using AI rendering tools and image generators, often go viral due to their photorealistic quality and futuristic appeal. Rail enthusiasts and fact-checkers have urged social media users to verify sources before sharing such clips.

While the Indian Railways continues to expand its fleet of Vande Bharat trains with improved technology and comfort, officials have confirmed that no official plans exist for a black-coloured version of the train at present.