Reeves' pre-Budget speech fails to rule out tax rises

In a pre-Budget speech, Chancellor Rishi Reeves acknowledged the need to make "necessary choices" to address the economic challenges facing the country. The speech did not rule out the possibility of tax increases, suggesting that the government is considering various measures to address the current fiscal situation. Reeves emphasized the government's commitment to maintaining fiscal discipline and finding ways to balance the books, noting that the upcoming Budget will involve difficult decisions. The speech comes amid growing concerns about the state of the economy, with rising inflation, high energy prices, and the ongoing impact of the COVID-19 pandemic. While the chancellor did not provide specific details about potential tax changes, the speech indicates that the government is keeping all options on the table as it prepares to unveil its fiscal plans. The upcoming Budget is widely expected to be a critical moment for the government as it seeks to navigate the complex economic landscape and chart a path forward.