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Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

Upworthy Tuesday, 5 August 2025 ()
NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation,…
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