Cabinet ministers have expressed concerns regarding proposed departmental cuts leading up to the Budget, indicating a worrying sentiment across Whitehall about fiscal constraints.
The potential £40 billion funding gap in public services may necessitate significant tax increases, prompting fears of the largest tax-hiking Budget in a generation.
Chancellor Rachel Reeves is committed to a new borrowing rule requiring day-to-day spending to be funded by tax revenues, irrespective of manifesto promises.
With the government focusing on National Insurance and capital gains tax increases, there's speculation about potentially raising fuel taxes due to market changes.
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