Reeves Declines to Reiterate Tax Pledges Ahead of Budget

Chancellor of the Exchequer Rachel Reeves laid the ground for more tax hikes in a speech on Tuesday morning, in which she blamed the previous Conservative administration and global trade frictions for harming the UK economy. Reeves lifted taxes by around £40 billion ($52 billion) at last year’s budget, which she promised at the time was a one-off move for raising revenue. However, she said Tuesday that previous policies around austerity, Brexit and the handling of the pandemic have left a worse