Rachel Reeves Tipped to Hike Taxes
Chancellor Rachel Reeves may increase taxes on income and VAT to fill a £50bn black hole in public finances.
Experts warn that this could lead to more economic pain for ordinary Britain, with rising prices, higher energy bills, and high street closures already affecting Britons.
Labour could break their election pledge not to put up income tax, National Insurance or VAT.
- Previous Budget in 2024: £22billion black hole blamed on Conservatives.
- New forecasts from the Office for Budget Responsibility (OBR) expected to downgrade UK productivity growth expectations.
The Chancellor may have to make difficult decisions to fill the new black hole, potentially affecting wages and the economy.
Author's summary: Chancellor Rachel Reeves may hike taxes to fill a £50bn black hole.
More News
- Dean Lewis Shares Statement Following Misconduct Allegations
- ‘Proud Of Our Women In Blue’: Sehwag, Pant, De Villiers Hail India’s Epic Run Chase To Reach Final
- Stranger Things 5 Trailer Unleashes All-Out War in Hawkins Ahead of Final Season! | SPIN1038
- NBA approves $10 billion Lakers sale to Mark Walter
- Trick-or-treaters turn out at Troy Historic Village
- Troy man dies after being struck by car in Colonie
- Spine surgeons on the move in October - Becker’s Spine Review
- Stranger Things 5 trailer shows way more than we were ready for
- Flau’jae Johnson Shuts Down Governor’s Call for Charlie Kirk Statue at LSU, Social Media Rides With Her
- O Canada! Summer tourism numbers hit all-time high | RCI