US EditionPublished • loading... • Updated
Budget 2025: Reeves accused of deliberately making UK finances look worse
Critics accuse Chancellor Rachel Reeves of overstating fiscal deficits before Budget 2025 despite economic forecasts showing a surplus; tax hikes totaling £26 billion were introduced.
- Wednesday's Budget followed claims that Rachel Reeves, Chancellor, overstated public finances before the UK budget, despite the Office for Budget Responsibility's reports indicating the gap had closed.
- On 17 September the OBR warned that the £20 billion gap would be much smaller, and in October, it informed ministers the gap had closed with a surplus forecast.
- At an early-morning briefing on 4 November, Chancellor Rachel Reeves signalled possible income tax rises but extended a three-year freeze on income tax thresholds, part of �30 billion of tax rises including �12.7 billion from the freeze.
- The political fallout included Downing Street denying Chancellor Rachel Reeves misled the public, while Conservative leader Kemi Badenoch and shadow chancellor Sir Mel Stride accused her of lying and said the country was "deliberately misled".
- The Institute for Fiscal Studies said tax rises, including a �12.7 billion freeze, demonstrate a breach of Labour's pledge, affecting 10.6 million people by the end of the decade, according to polling.
Insights by Ground AI
Podcasts & Opinions
17 Articles
17 Articles
The IndependentReposted by 
The Independent (US)
The Independent (US)Reeves accused of misleading public on Budget black hole to justify £26bn tax raid
Badenoch claims chancellor ‘lied to the public’ and was ‘bribing Labour MPs to save her own skin’
·London, United Kingdom
Read Full Article
Rachel Reeves "Lied About £21 Billion Black Hole" After OBR Told Her Months Ago it Didn't Exist
Rachel Reeves has been accused of "lying" to the public and markets to justify huge tax rises to pay for benefits after the OBR revealed she was told months ago there was no 'black hole' in the public finances.
Budget 2025: Reeves accused of deliberately making UK finances look worse
Tories claim the chancellor misled the country when she warned she would have to make tough choices due to dire economic circumstances. Letter reveals the OBR had already told her she was running a surplus.
·United Kingdom
Read Full ArticleCoverage Details
Total News Sources17
Leaning Left5Leaning Right6Center1Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 42%
R 50%
Factuality
To view factuality data please Upgrade to Premium
