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UK Chancellor Rachel Reeves to raise taxes breaking promise due to poor economic outlook.
UK Chancellor Rachel Reeves announced she will raise taxes in the November 26 budget, breaking a campaign promise, after assessing the economy as worse than expected.
In a pre-budget speech, she cited high public debt, weak growth, and global pressures as reasons for tough fiscal decisions, including potential income or sales tax increases.
Reeves emphasized the need for shared sacrifice to stabilize finances and invest in long-term growth, warning of ongoing economic challenges despite Labour’s July 2024 election victory.
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La canciller del Reino Unido Rachel Reeves aumentará los impuestos rompiendo la promesa debido a las malas perspectivas económicas.