DEVELOPING: Reeves Refuses to Rule Out Tax Hikes in Pre-Budget Speech

Breaking News: Chancellor Reeves Refuses to Rule Out Tax Hikes in Pre-Budget Speech Chancellor Rachel Reeves has refused to rule out tax rises in a pre-Budget speech at Downing Street, sparking concerns over a potential U-turn on Labour's election manifesto pledge not to hike income tax, VAT, or National Insurance. This comes just hours before the Budget is set to be announced. Reeves' speech failed to provide clarity on the government's tax plans, leaving business leaders and politicians uncertain about the future. Conservative leader Kemi Badenoch has criticized the speech, calling it "one long waffle bomb" that has left business leaders "none the wiser". The Labour government's election manifesto pledge not to raise VAT, National Insurance, or income tax is now under scrutiny. If the government were to break this pledge, it would be a significant departure from their campaign promises. Reeves has pledged to come up with a "Budget for growth with fairness at its heart" aimed at addressing NHS waiting lists, the national debt, and the cost of living. However, the lack of clarity on tax rises has raised concerns about the government's economic strategy. This is a developing story, and we will provide updates as more information becomes available.