Chancellor Rachel Reeves announces £22bn black hole in UK budget
But she finally let the cat out of the bag last night, telling the News Agents podcast: “I think that we will have to increase taxes in the Budget.
“We had in our manifesto a commitment to fiscal rules to balance day to day spending through tax receipts, and by the end of the forecast period, to get debt down as a share of GDP. Those are sensible fiscal rules to keep a grip of the public finances.But Ms Reeves did not rule out increasing the rate of capital gains tax and make changes to inheritance tax and
When asked about it, she said: “We will have a Budget on the 30th of October and ahead of that Budget, we will have a forecast by the Office of Budget Responsibility on this occasion, based on accurate numbers.”RACHEL Reeves’ decision to ditch a cap on social care costs is a “betrayal” of families, a former top care chief said yesterday.
Sir Andrew Dilnot, ex-chair of the Commission on the Funding of Care, slammed the Chancellor for scrapping plans to guarantee that no old or disabled person spends more than £86,000 on support in their lifetime.
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