UK Chancellor Rachel Reeves faces budget deficit pressures, may need to cut spending or raise taxes.
UK Chancellor Rachel Reeves faces potential spending cuts or tax increases as her £9.9 billion fiscal buffer has been depleted due to lower growth forecasts and higher borrowing costs. The Office for Budget Responsibility warns that the UK could see a budget deficit, pressuring Reeves to balance the books in her upcoming Spring Statement. The challenges come amid concerns over economic growth and rising interest rates.
5 weeks ago
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