27 h. ago Rachel Reeves scrambles to play down claims she's facing a £50bn 'black hole' in the public finances as under

The Chancellor also sought to dampen speculation she is poised to announce a fresh package of tax rises on British businesses and households.

Economics

28 h. ago Reeves names last possible date for Budget as she eyes tax hikes to plug £40bn black hole

Sources tell The Independent the chancellor favours raising capital gains tax and introducing a gambling levy to plug the £40bn hole in public finances

Economics

29 h. ago Budget 2025: What taxes could Rachel Reeves put up and what does it mean for you

There is fevered speculation about the different taxes that might be in Chancellor Rachel Reeves' sights as she looks to plug a more than £20billion hole in the public finances

Economics

34 h. ago Chancellor Rachel Reeves admits economy 'is not working well enough' as she reveals Budget date

The Chancellor is facing pressure to steady the UK economy and plug a £41 billion black hole in public finances

Economics

3 d. ago Rachel Reeves admits Brits 'feel stuck' as dire poll finds nearly two

Chancellor Rachel Reeves is facing a brutal Budget reckoning this Autumn with warnings she has a black hole of up to £50billion to fill.

Politics

1 week ago Rachel Reeves set to launch 'stealth tax raid' on workers to help fill Labour's £50bn black hole in public finances

The Labour minister is reportedly set to introduce a six-year freeze on income tax thresholds rather than increasing them in line with the cost of living or inflation .

Economics

2 w. ago Which tax rises could fill the £50bn black hole in Britain’s balance sheet?

The Independent looks at Rachel Reeves’ options as she looks to fill the gaping hole in Britain’s public finances this autumn

Economics

2 w. ago Worrying number of pubs and restaurants that have put prices up revealed

Tax increases announced by Labour to tackle a hole in the public finances have led to price increases and job cuts throughout the hospitality sector, say bosses, as they called for help from the Chancellor

Politics

2 w. ago Reeves explores reform to capital gains tax on expensive houses

UK Treasury considers overhaul of property levies as ministers confront a hole in the public finances of at least £20bn 

Economics

2 w. ago Reeves explores reform of capital gains tax on expensive houses

UK Treasury considers overhaul of property levies as ministers confront hole in public finances of at least £20bn 

Economics

2 w. ago Tractor tax more likely to hit working farmers than wealthy landowners, think tank tells Reeves

Labour chancellor warned over her planned inheritance tax raid on farms

Economics

2 w. ago Tax the rich more to fill black hole in public finances, Labour members tell Starmer

Exclusive: PM urged to conduct a ‘radical change of direction’ as the government attempts to plug gaps in the public finances

Economics

3 w. ago Major inheritance tax change talks as Sky News host grills minister on plan

Chancellor Rachel Reeves is reportedly exploring changes to inheritance tax - such as tightening the rules around gifting - as she battles to plug a hole in the public finances

Politics

3 w. ago Keir Starmer and Rachel Reeves 'lay the ground for massive tax hikes' with Chancellor 'needing to fill £50billion hole' at grim Budget

Keir Starmer and Rachel Reeves are said to have started holding meetings on how to fill a black hole in the public finances estimated at up to £50billion.

Economics

4 w. ago Keir Starmer REFUSES to rule out tax hikes in the Budget after economists warn Labour is facing a huge £50bn black hole in public finances

The Prime Minister said he didn't recognise 'some of the figures that are being put out' amid suggestions that Rachel Reeves is on track to miss one of her fiscal rules.

Economics

4 w. ago Sir Keir Starmer declines to rule out tax rises as he defends handling of economy

It comes after warnings that taxes may need to rise to plug a £51 billion black hole in public finances

Economics

4 w. ago Chancellor likely to raise taxes 'to fill £51bn black hole in public finances', experts warn

The Chancellor will have to find £51 billion at the autumn budget, according to experts

Economics

4 w. ago Reeves urged to consider replacing council tax as thinktank warns of ‘impossible trilemma’ for chancellor – UK politics live

The National Institute of Economic and Social Research says government’s spending gap is on course to reach more than £40bnThis is from Chris Giles, economics commentator at the Financial Times, on Bluesky on today’s NIESR report.I see NIESR is talking today about a £41.2bn hole in the UK public financesTwo things are newsworthy: Continue reading...

Events

4 w. ago Which tax rises could the government introduce to fill the £41bn black hole in Britain’s finances?

Labour’s pledge not to raise taxes on ‘working people’ leaves the chancellor with a limited number of workable options to fill a massive black hole in the public finances

Economics

4 w. ago Chancellor warned ‘tax rises needed to fill £51bn black hole in public finances’

Niesr said Rachel Reeves is facing an ‘impossible trilemma’ and will likely need to resort to tax rises in the autumn budget.

Economics