DEVELOPING: Reeves Vows Budget Fairness Amid Tax Hike Fears

Breaking News: Chancellor Reeves Vows Budget Fairness Amid Tax Hike Fears Chancellor Rachel Reeves has announced she will make "fair choices" in the upcoming Budget, sparking fears of tax rises to balance the books. Reeves is expected to deliver a speech at Downing Street later today, ahead of the 26 November Budget. Tax rises are now "inevitable" according to the influential think tank the Resolution Foundation, which has close links to Labour. The foundation warns that avoiding cuts to VAT, National Insurance or income tax would "do more harm than good". Labour's general election manifesto explicitly ruled out a rise in VAT, National Insurance or income tax, a pledge that Shadow Chancellor Sir Mel Stride claims Reeves is now set to break. Stride has called for the Chancellor to be sacked if she "breaks her promises yet again". The Resolution Foundation suggests that hiking income tax would be the "best option" for raising cash, but this move would be a reversal of Labour's core election pledge. Treasury Minister Torsten Bell, a former chief executive of the Resolution Foundation, has not commented on the matter. This is a developing story, with further details expected to emerge from Reeves' speech at Downing Street later today.