UK's Reeves Says She Can't Rule Out Further Tax Hikes

Fiscal Policy and Economic Outlook - The budget aims to cut borrowing and debt, with an increase in headroom to £217 billion [3] - The IMF indicates the UK has a faster rate of fiscal consolidation compared to other G7 economies [4] - Some fiscal repair is expected to extend to 2028 and beyond [4] - The government aims to beat growth forecasts, targeting 15% growth this year [11] Taxation and Revenue - The government acknowledges that freezing tax thresholds will require ordinary people to contribute more [7] - The Office for Budget Responsibility (OBR) productivity downgrade is expected to result in £60 billion less in tax revenue [7] - The government denies that policy measures in the budget impact growth forecasts [8] - The government defends its tax policies as fair and necessary choices in the current circumstances [13] Government Initiatives and Reforms - Planning and Infrastructure Bill is nearing completion [10] - The government highlights the India deal and planning and infrastructure bill as positive for the economy [8] - Changes to Universal Credit are projected to add 15000 people to the workforce [8] - The government is focused on growing the economy through reforms, including pensions and planning [14]