Reeves must raise taxes to cover £41bn black hole, warns leading think tank | ITV News

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Reeves must raise taxes to cover £41bn black hole, warns leading think tank | ITV News

A leading think tank has warned that tax rises are "inevitable" in this Autumn’s budget, as the Chancellor needs to plug a black hole in the public finances.

If the government raises taxes on "working people", it will be breaking a key manifesto pledge.

Culture Secretary Lisa Nandy said on Wednesday that the government is not focused on raising taxes, but on growing the economy.

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Date: August 6, 2025