Millions could be at risk of a stealth tax raid after HMRC funded research into altering the rules to a current financial scheme.

Rachel Reeves failed to rule out further tax rises in the autumn as new figures showed the economy shrank more than expected in April.The Chancellor has repeatedly said the cost of Wednesday’s spending review is covered by the tax rises she brought in last year,

Rachel Reeves refuses to rule out Autumn Budget tax rises as economy shrinks 0.3% in April - Latest GDP estimate worse than the 0.1% fall expected by economists