Tax wealth and value public assets: how Reeves can solve her biggest budget challenges | James Smith

The chancellor, Rachel Reeves, faces a significant challenge in balancing public finances while avoiding austerity, indicating that her pro-investment and pro-growth goals are complex.

Reeves' plan to bolster public services hinges on tax reforms, particularly around capital gains, to generate necessary funds while keeping other core taxes untouched.

Despite her objectives, Reeves may need to raise £20 billion in extra spending to avoid further cuts to public services, which adds pressure to her budget.

With previous austerity measures leaving a mark, Reeves must navigate a tight fiscal landscape that limits her options for increasing funding without substantial tax changes.

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