Chancellor says ‘world has changed’ and UK not immune to effects of wars, US tariffs and higher borrowing costsUK politics live – latest updatesRachel Reeves has confirmed ahead of her speech to the Labour party conference that she no longer stands by a pledge last year not to raise taxes , saying “the world has changed” due to a mixture of conflicts, US tariffs and higher borrowing costs.In a series of broadcast interviews before she addressed the gathering in Liverpool on Monday, the chancellor strongly hinted, however, that VAT was not due to rise in November’s budget. Continue reading...
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