At a glance
•Chancellor Rachel Reeves has put Britain on notice of tax rises in her pre-Budget speech, saying “we will all have to contribute” to secure Britain’s economic future, but she avoided confirming whether income tax, national insurance, or VAT would remain untouched.
•ITV hosts Susanna Reid and Lorraine Kelly criticised the speech as “bonkers” and lacking substance, questioning why Reeves spoke for so long without revealing any concrete Budget details.
•Reeves cited global and domestic economic pressures—including downgraded productivity forecasts and rising debt costs—as reasons for “hard choices,” with economists estimating she may need to raise £21–£26 billion in taxes to meet her fiscal targets.
