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.
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The latest NIESR analysis reveals a stark reality: the government faces an economic black hole that cannot be ignored. Weak growth, rising borrowing, and unfunded pledges make current plans unsustainable, and this time Reeves can blame no one else but herself. The numbers don’t lie and, whether ministers admit it now or later, promises are set to be broken.
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The latest NIESR analysis reveals a stark reality: the government faces an economic black hole that cannot be ignored. Weak growth, rising borrowing and unfunded pledges make current plans unsustainable, and this time Reeves can blame no one else but herself. The numbers don’t lie and, whether ministers admit it now or later, promises are set to be broken.
There is a 56% chance that the U.K. will have a Labour prime minister on Jan. 1, 2030, according to the Metaculus prediction community.