Rachel Reeves to Increase Taxes
Chancellor Rachel Reeves may raise income tax and VAT to fill a £50bn gap in public finances.
Britons are already experiencing economic hardship due to rising prices and high energy bills.
Experts warn of more pain as Ms Reeves seeks to fill the black hole in the nation's coffers.
- Labour may break their election pledge not to increase income tax, National Insurance, or VAT.
- New forecasts from the Office for Budget Responsibility (OBR) are expected to downgrade UK productivity growth expectations.
Author's summary: Chancellor Rachel Reeves may hike taxes to fill a £50bn black hole.
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