Rachel Reeves has signalled that tax rises are unavoidable when she delivers her Budget later this month, arguing that “we will all have to contribute” to fixing the economy.

In a Downing Street speech , the Chancellor said she wanted the public to “understand the circumstances we are facing” as she prepares to fill a fiscal blackhole in the country’s finances estimated at between £20bn and £30bn. New Feature

In Short

Quick Stories. Same trusted journalism.

Reeves did not confirm any specific policies ahead of the Budget but she declined to rule out breaking Labour’s election pledge not to raise income tax, national insurance or VAT.

And with her repeated references to the “challenges” the country is facing, she appeared to be dropping heavy hint that manifesto-busting tax rises

See Full Page