UK budget: Taxes rising to curb debt, fund public services
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Britain is bracing for the most consequential budget since Labour returned to power. Chancellor Rachel Reeves must fill a £20–£30 billion hole without breaking Labour’s core promises—or the patience of an electorate already turning against the Starmer government. After the £40 billion tax shock of 2024, Reeves vowed there would be no repeat. But policy U-turns, overspending, and stagnating growth have reopened a massive deficit. With income tax, VAT and National Insurance off-limits, Reeves is r
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