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Evening Standard

David Hughes

Reeves accepts impact of taxes on growth as she orders Cabinet to tighten belts

Rachel Reeves Jonathan Reynolds PA Graphics Sir Keir Starmer CBI

Rachel Reeves spoke with British Private Equity and Venture Capital Association chief executive Michael Moore (Jeff Moore/PA) - (PA Wire)

Chancellor Rachel Reeves has acknowledged higher taxes could hit economic growth as she sought to reassure businesses about her Budget plans.

Cabinet ministers have been ordered by the Chancellor to keep a tight rein on spending in order to reduce the pressure on the public finances, limiting the need for taxes to balance the books.

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