Chancellor Rachel Reeves told taxes will have to be hiked further to help stabilise public finances ...Middle East

TAXES will have to be hiked further to help stabilise the public finances, Rachel Reeves has been told. A health check on the UK economy highlighted the need to “mobilise additional revenue” to withstand shocks, the OECD said. The influential report came as Bank of England boss Andrew Bailey said there could be as many as four interest rate cuts next year. But the Chancellor was given the stern warning after telling business leaders last month she wouldn’t have to carry out further borrowing or tax raids. Growth for next year was upgraded to 1.7 per cent – up from 1.2 per cent – but the Paris-based organisation fears Budget changes will then “crowd out” business inves

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