Tax-Hike Pressures to Follow UK Spending Review, Economists Say
UK Chancellor of the Exchequer Rachel Reeves is increasingly likely to have to raise taxes later this year as weak growth, higher borrowing costs and top-ups for public services put her fiscal rules at risk, economists warned.
Just days before Wednesday's Spending Review, when Reeves will allocate roughly £600 billion of annual spending between departments, former Bank of England rate-setter Michael Saunders said it was 'not hard to see pressures for extra fiscal tightening of £15 billion-£30 billion' at the autumn budget.
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