Labour warned £22bn shortfall will last years without higher taxes or cuts
Resolution Foundation says overspend chancellor claims she inherited will persist unless tough choices are madeReeves spends first 100 days in power trying to ride two horses. Labour weighs £3bn tax rise on gambling firms. Chancellor considers raising capital gains tax to 39%Rachel Reeves has been warned that most of the £22bn shortfall in the public finances Labour claims was covered up by the Conservatives will continue to hang over the government by the end of the decade. In a downbeat report before the chancellor’s budget later this month, the Resolution Foundation said as much as £19bn of the shortfall would persist until 2029-2030 unless Reeves took action to raise taxes or cut spending.
Continue reading…
