Economists have said taxes will have to go up in the autumn Budget if the chancellor is to meet her self-imposed rules on borrowing to fund public services.<\/p>\n
In her Labour conference speech on Monday, Reeves said the government was facing difficult choices and promised she would not take risks with the public finances.<\/p>\n
The chancellor pledged to keep “taxes, inflation and interest rates as low as possible”.<\/p>\n
But hinting at further tax rises, she said the government’s choices had been made “harder” by international events and the “long-term damage” done to the economy.<\/p>\n
In its election manifesto, Labour said it would not increase National Insurance, the basic, higher, or additional rates of income tax, or VAT.<\/p>\n
In an interview ahead of her conference speech, Reeves was asked if VAT could rise and she said: “The manifesto commitments stand.”<\/p>\n
That form of words has been echoed by senior ministers at Labour’s conference, including Prime Minister Sir Keir Starmer.<\/p>\n
But when pressed over whether she would have to put up taxes, Reeves said “the world has changed” in the last year – pointing to wars in Europe and the Middle East, US tariffs and the global cost of borrowing.<\/p>\n
“We’re not immune to any of those things,” she added.<\/p>\n","protected":false},"excerpt":{"rendered":"Economists have said taxes will have to go up in the autumn Budget if the chancellor is to…\n","protected":false},"author":2,"featured_media":170015,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[102,2960,56,54,55],"class_list":{"0":"post-170014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-healthcare","8":"tag-health","9":"tag-healthcare","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/170014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=170014"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/170014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/170015"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=170014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=170014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=170014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}