LONDON, Nov 25 (Reuters) – British finance minister Rachel Reeves is likely to announce tens of billions of pounds of new tax increases on Wednesday in a budget that puts her credibility on the line both with bond investors and with lawmakers demanding more welfare spending.
Little more than a year after ordering 40 billion pounds ($52.7 billion) of tax hikes – the biggest since the 1990s and which she promised would be a one-off – Reeves has been forced to look at further revenue-raising measures due to an expected downgrade of Britain’s economic prospects and higher debt costs.
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Reeves said she was taking
UK’s Reeves to test faith of investors and party with tax-heavy budget
