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World

There is nothing new about the £20bn ‘black hole’

26 July 2024

8:43 PM

26 July 2024

8:43 PM

Labour’s pro-growth reforms were fun while they lasted. Now here come the tax rises. That’s not quite how Rachel Reeves will convey the findings of the Treasury audit she plans to announce on Monday – but hikes are probably going to be the next step in filling in what the Chancellor will claim is a £20 billion hole in the public finances.

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