Tax rises are on their way within months, Rachel Reeves has signalled, saying: “I think that we will have to increase taxes in the Budget”.
The Chancellor made the statement just over three weeks after Labour won a landslide election victory on July 4.
“I think that we will have to increase taxes in The Budget,” she told The News Agents podcast.
Her comments came amid a furious bust-up with her predecessor Jeremy Hunt.
She accused him on Tuesday of “lying” about the true scale of the public finances crisis ahead of the election.
But he hit back, claiming it was in fact Labour which had not been honest with voters about its plans to raise taxes.
Ms Reeves on Monday announced the axing of winter fuel payments for pensioners not on benefits as part of sweeping reforms which she claimed were needed to fill a £22 billion black hole in Britain’s public …