Reeves Opens Door to UK Tax Rises to Fill £22 Billion Black Hole

Rachel Reeves announced a slew of measures to shore up the UK’s public finances as she accused the previous Conservative government of running up a £22 billion ($28.3 billion) black hole, and signaled she may raise taxes at a budget at the end of October to help balance the books.

Britain’s new Chancellor of the Exchequer — in office for just over three weeks — said she would stop winter fuel payments for wealthier pensioners, cancel planned reforms to adult social care and scrap some transport projects, insisting: “If we cannot afford it, we cannot do it.”

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[hariharsahu]

Thank you so much dear friend 🙏 skry good morning 😅😮😊

[gothicpagan.]

Cut spending by 12% from today, Job done.

[MrJimiJK]

Remember when the Tories took over the overspend was 156bn.

After Covid it was 50bn.

Now 22bn is good!