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Chancellor Rachel Reeves will soon announce her long-awaited second Autumn Budget and set her financial plans for the country to try and improve the cost of living and reduce national debts. Ms Reeves is facing some tough decisions to try and plug a reported £50 billion black hole in public finances .

So far, there has been much speculation as to how the Chancellor plans to cut costs this year, with concerns raised over possible tax rises .

Without any money coming from increased income tax, there is speculation that the Treasury will pursue a “smorgasbord” approach of raising a range of smaller taxes, with limits to salary sacrifice schemes and new measures to tax electric vehicles still in the mix .

According to The Guardian, this could be 'one of the toughest second

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