Chancellor Rachel Reeves has promised a budget of “fairness and opportunity” as speculation mounts that she is preparing to raise income tax to help fill a gap in the public finances.
In a speech from Downing Street on Tuesday, the chancellor said she will “make the choices necessary to deliver strong foundations for our economy” for “years to come.”
Ahead of her speech, No 10 repeatedly refused to reaffirm Labour’s manifesto pledges, fuelling speculation that its promise not to raise income tax and other key taxes could be dropped.
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