Chancellor Rachel Reeves admitted tax hikes could impact economic growth as she pushes for private investment

Chancellor Rachel Reeves has acknowledged higher taxes could impact economic growth as she seeks to increase private investment in the UK.

Speaking at the British Private Equity and Venture Capital Association summit, the chancellor told investors she had to hike taxes in her maiden budget in order to place finances on a “firm footing and to fund public services”.

She said: “I think we got the balance right.”

Ahead of the upcoming Autumn Budget , businesses and investors have warned Reeves not to repeat last year’s tax raid, which included a £25bn increase to national insurance contributions and an increase to the national minimum wage.

However, industry figures predict it i

See Full Page