Reeves Sets Stage for UK Tax Hikes in Rare Public Budget Appeal

Chancellor of the Exchequer Rachel Reeves declined to reiterate Labour’s manifesto commitment against broad-based tax hikes, as she made an unusual appeal to the British public to support her upcoming budget.

In a pre-budget speech in Downing Street carried on national broadcasters, Reeves argued she would prioritize bringing down borrowing costs and inflation. She blamed the previous Conservative administration for putting lasting pressure on the public finances, citing austerity and Britain’s exit from the European Union.

In the clearest hint yet that the Labour government will compromise on its commitment to avoid lifting the UK’s main tax levers, Reeves said ...