Summary
Rachel Reeves, the Chancellor, suggested that taxes might increase soon, as she spoke about future budget changes. The announcement is in preparation for the upcoming budget on November 26, despite previous promises not to raise certain taxes.
Key Facts
- Rachel Reeves is considering tax increases before the next budget.
- The announcement happened on November 4, 2025.
- The budget announcement is set for November 26, 2025.
- Previously, Labour promised not to increase income tax, VAT, or National Insurance.
- The statement was made to journalists during a speech about budget challenges.
- The announcement was part of a daily political news podcast episode by the BBC.
