#obr-forecasts

#obr-forecasts

After 14 years out of office, last year's Autumn Budget was largely met with an understanding that tax rises were necessary. Labour had been dealt a poor hand by its predecessors, with borrowing elevated and debt rising. The Chancellor, Rachel Reeves, announced tax rises to steady the ship and expressed hope that such an action would be a one-off. Yet, one year later, the Chancellor has reneged, announcing a further package of £26 billion worth of tax hikes.