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Reeves may have to U-turn over no more tax rises, warn economists

The Guardian on The Guardian
Reeves may have to U-turn over no more tax rises, warn economists



Dramatic economic slowdown means chancellor could face lower receipts and higher borrowing costs in 2025A dramatic slowdown in economic growth and rising borrowing costs since the budget could undermine the government’s finances and force the chancellor, Rachel Reeves, to U-turn on pledges not to further increase taxes, analysts have warned.With inflation on the rise again, the London stock market at its lowest point for more than a month and the Bank of England forecasting economic stagnation in the final three months of 2024, the government heads into the Christmas break weighed down by a gloomy outlook for the new year. Continue reading…



Source link : https://www.theguardian.com/business/2024/dec/20/rachel-reeves-may-have-to-u-turn-over-no-more-tax-rises-warn-economists-slowdown-borrowing-costs

Author : Phillip Inman and Graeme Wearden

Publish date : 2024-12-20 15:54:31

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Tags : The Guardian

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