Rachel Reeves is facing pressure to increase tax thresholds after pensioners were dragged a step closer to paying income tax. Higher than expected wage growth means that under the triple lock, the state pension will be nearly £12,

Filling the £22bn financial "black hole" would only be enough “to keep public services" still, she told a meeting.

He believes part of the £40billion will be smaller rises in spending in some parts of the public sector. But this would still leave the Treasury having to find a hefty chunk of t

Chancellor Rachel Reeves is looking into implementing up to £40billion in tax rises and spending cuts in the upcoming Budget, as the Government aims to avoid a return to austerity. The Treasury has identified a larger funding gap than previously reported,