Further tax hikes likely in autumn despite spending cuts, say economists

Chancellor of the Exchequer Rachel Reeves leaving Downing Street (Stefan Rousseau/PA) - (PA Wire)

Economists have warned that tax hikes are “likely” later this year due to narrow headroom in the public finances in order to meet fiscal rules.

It came as the Government’s official forecaster cautioned that there was a “significant risk” around whether the Chancellor will achieve her predicted £9.9 billion buffer in the public finances by 2029-30.