Rachel Reeves gives first major speech as Chancellor
RACHEL Reeves will today warn of “difficult choices” — as she prepares the nation for sweeping tax raids.will reveal the findings of a probe into Treasury coffers expected to show a £20billion black hole in the national purse.Mandarins are understood to be eyeing up a hike on inheritance and capital gains taxes this autumn to boost coffers.
Speaking ahead of the statement, Cabinet Office Minister Pat McFadden said: "Today what you will hear is how we are going to respond to that opening of the books and I think what people should expect today is not tax measures but a Chancellor that is prepared to take some very tough decisions on spending to show that we put financial stability first and we take seriously that as the foundation for growing the economy.
She added: “Having promised 50 times not to raise taxes, the public will never forgive Labour when they inevitably do.”
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