DEVELOPING: Reeves Sets Sights on Tax Overhaul Ahead of Budget Deadline

BREAKING NEWS Chancellor Rachel Reeves has confirmed she is considering tax rises ahead of the autumn Budget, set to be unveiled next month. Reeves made the admission during an interview with Sky News, stating that she would "always make sure the numbers add up" as the UK faces slow economic growth and mounting government debt. This comes after economists warned that taxes may need to rise or spending cut to fill a £20-30 billion hole in public finances. The Budget is scheduled for November, and Reeves has previously hinted at tax increases. Analysts have estimated that she will need to take drastic measures to meet her self-imposed borrowing rules. Reeves received the Office for Budget Responsibility's assessment of the economy on October 3, but details of its findings remain unclear. This development comes as a significant blow to taxpayers and businesses, who are bracing themselves for potential tax hikes. The exact nature and extent of any tax rises or spending cuts remain uncertain, but one thing is clear: the Chancellor is preparing for tough decisions ahead. This is a developing story. We will provide updates as more information becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*