UK Chancellor Rachel Reeves weighs tax hikes to address debt and inflation amid global uncertainty.

Chancellor Rachel Reeves is preparing for possible tax increases in the upcoming UK Budget amid rising global tensions, inflation, and pressure on public finances. Facing growing demands on services and a need to reduce national debt, Reeves is considering targeted rises—especially on higher earners or specific sectors—but no decisions are final. The government aims to balance fiscal stability with protecting household incomes, with details still under review ahead of the Budget.