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Reeves Opens Door to UK Tax Rises to Fill £22 Billion Black Hole
Posted
July 29, 2024
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July 29, 2024
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0:46Now PlayingRachel Reeves announced a slew of measures to shore up the UK’s public finances as she accused the previous Conservative government of running up a £22 billion ($28.3 billion) black hole, and signaled she may raise taxes at a budget at the end of October to help balance the books.
Britain’s new Chancellor of the Exchequer — in office for just over three weeks — said she would stop winter fuel payments for wealthier pensioners, cancel planned reforms to adult social care and scrap some transport projects, insisting: “If we cannot afford it, we cannot do it.”
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