GDP

Reeves announces £40 billion tax hike, hints at more increases

Rachel Reeves has signalled that her initial £40 billion tax increase on businesses and the middle class may be just the beginning, as she declined to rule out further tax hikes. In a surprising Budget announcement, the Chancellor has shifted the UK towards a high-tax, high-spending model reminiscent of some European countries. The extent of the tax raises, which surpass…