UK Chancellor Strongly Hints at Dropping No-Tax-Rise Pledge in Upcoming Budget

Deep News11-10

UK Chancellor Rachel Reeves has signaled that the Labour Party may abandon its election manifesto pledge not to raise taxes as she prepares what she calls a "tough" budget.

"Of course, there's the option to stick to campaign promises, but that would require deep cuts to capital spending and other measures," Reeves told BBC Radio, referring to Labour's pre-election commitment not to increase income tax, national insurance contributions, or VAT rates.

She stated that deteriorating economic conditions necessitate adjustments to taxation and spending, adding that the budget, due on November 26, will be guided by principles of fairness and economic growth.

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