US EditionRachel Reeves faces pressure to hike taxes again as economy stumbles, think-tank says
- The UK economy is expected to expand by 1.2% in 2025 despite challenges such as diminished business confidence and increasing cost pressures.
- This slower growth follows earlier forecasts of 1.5%, as the government faces global uncertainty and a slowdown in domestic demand.
- The government is projected to fail in meeting its fiscal targets aimed at reducing national debt and securing a budget surplus, which raises the possibility of increased taxes.
- Niesr's interim director Stephen Millard said the Chancellor must twice yearly choose between spending cuts or 'politically unpalatable tax rises.'
- The situation suggests the Treasury may impose more spending cuts or tax increases, while calls grow for a credible plan to boost growth across UK regions.
Insights by Ground AI
Does this summary seem wrong?
19 Articles
19 Articles
All
Left
3
Center
6
Right
5
UK's Reeves faces pressure to hike taxes again as economy stumbles, think-tank says
British finance minister Rachel Reeves looks set to miss her budget targets again, in part due to the economic growth hit from her tax increase on employers, raising the prospect of more tax hikes later this year, a think-tank said on Thursday.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources19
Leaning Left3Leaning Right5Center6Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 21%
C 43%
R 36%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
