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@ Layer3.news
2025-06-16 05:38:36
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THE UK INSISTED UNPOPULAR TAX RISES WERE A ONE-OFF. ECONOMISTS SAY HIKES ARE NOW INEVITABLE
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✍️ UK Chancellor Rachel Reeves may have to enact more tax rises to balance the books and meet her fiscal targets, despite previously stating that there would be no more tax increases.
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👉 UK Chancellor Rachel Reeves may have to enact more tax rises to balance the books and meet her fiscal targets
👉 The government has a limited fiscal headroom of £9.9 billion to meet its main fiscal target
👉 Weaker-than-expected tax receipts and lower economic growth forecasts are expected to wipe out the government's fiscal headroom
👉 The government has three options: cut spending, increase borrowing, or raise taxes further
👉 Tax rises are increasingly inevitable, with economists predicting that the government's fiscal headroom will fully evaporate
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#RachelReeves #JamesSmith #PaulJohnson #KeirStarmer #AngelaRayner #MujtabaRahman #London #politics
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