BREAKING NEWS: Tax Hikes Loom as Rachel Reeves Tees Up Budget Shock
Rachel Reeves, the UK Chancellor, has confirmed she is considering further tax rises ahead of the Budget on November 26.
Reeves said she is looking at "further measures on tax" to put the UK's finances on a firmer footing. This comes after gloomy economic forecasts and U-turns on welfare cuts made it harder for her to meet her own tax and spending rules.
The Chancellor announced tax rises worth £40 billion a year in her first Budget last November, including hikes to payroll taxes paid by employers. It is unclear what specific measures she will propose this time around.
Reeves emphasized the need for economic and fiscal stability, but critics have warned that further tax hikes could harm the economy.
This is a developing story as we await more details on the Chancellor's plans. The Budget is set to take place on November 26, with many expecting significant announcements on taxation and public spending.
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.*
