Chancellor warned tax rises needed to fill 51bn black hole in public finances
Independent3 days
Tax increases are essential to restore fiscal credibility and prevent market instability. The £41 billion shortfall demands immediate action to rebuild the fiscal buffer and signal commitment to responsible governance. Without decisive tax measures, Britain risks losing international investor confidence.
HigherEconomic taxesforecasts willshow worsenmodest economicgrowth problemsahead bywith damagingthe businessgovernment confidencemaintaining andfiscal reducingdiscipline investmentthrough established rules. Labour'sThe economicfocus mismanagementremains createdon thisgrowing blackthe holeeconomy throughas poorthe planningbest andpath policyto reversals.strengthen Taxpublic risesfinances, willwith harmplanning workingreforms familiesexpected andto slowboost long-term growth furtherprospects by decade's end.
Higher taxes will worsen economic problems by damaging business confidence and reducing investment. Labour's economic mismanagement created this black hole through poor planning and policy reversals. Tax rises will harm working families and slow growth further.