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Reeves Risks Autumn Tax Hikes With Repeat of Budget Gamble [Yahoo! Finance]
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In doing so, the ensured she would remain a hostage to fortune in the months ahead. Most Read from Bloomberg They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. Paris Votes to Make 500 More Streets Car-Free Faced with a £14 billion ($18 billion) deterioration in the public finances, Reeves cut spending, trimmed welfare and tackled tax avoidance to get the margin against her fiscal rule that taxes should fund day-to-day spending back to £9.9 billion — the third smallest on record. She was helped by a better-than-expected forecast from the Office for Budget Responsibility, but the watchdog still put her chances of missing that rule at 46%. The risk for Reeves is that her room for error — at less than 1% of total government spending — gets eroded away before her budget in the fall, just as happened last
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