UK considers tax increases – Reeves promises tough but fair measures

British Chancellor of the Exchequer Rachel Reeves warned that the country faces greater economic challenges than it did a year ago.

In a speech ahead of the new budget, she emphasized that the situation may require unpopular decisions, including possible tax increases.

She listed the main problems as the continuing trade tariffs, which she believes are deterring investors, the slow decline in inflation, and rising global interest rates.

According to Reeves, the new budget, which is to be presented on November 26, will focus on growth, fairness, and strengthening the business environment.

At the same time, she said her goal was to protect public services from a return to austerity measures and ensure that the economy remains stable for future generations.

She added that as finance minister, she would do whatever was necessary to protect families from economic pressure, even if those steps might be politically unpopular.

(reuters, lup)