Rachel Reeves has been warned by some of the country’s leading experts that she has no choice but to raise major taxes and reform others in the upcoming Budget if she is to turn Britain’s “desperate” economic situation around.
The chancellor is facing a black hole of up to £50bn and is widely expected to hike levies next month, but she has been warned she cannot afford to tinker at the margins “by picking from a Scrabble bag” of smaller tax increases.
