Rachel Reeves refuses to rule out further tax rises in 2026
Reeves says tax rises are ‘less necessary’ after Budget
- Chancellor Rachel Reeves says further tax rises are "less necessary" following her November Budget, though she did not explicitly rule them out.
- Her recent Budget increased taxes by £26bn, partly achieved by freezing income tax thresholds.
- Reeves said these measures significantly increased the government's fiscal headroom, better preparing it for future economic shocks and reducing the need for additional tax changes.
- She declined to make predictions regarding future budgets, emphasising it was too soon after the last one.
- A key focus for Reeves is to boost home ownership by making mortgages more accessible and supporting proposals for more flexible mortgage products.