Income tax rise now needed to plug extra 20bn in black hole, economists warn Reeves
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Income tax rise now needed to plug extra 20bn in black hole, economists warn Reeves
"From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging."
"The chancellor knew she would be facing a difficult Budget on 26 November, with a gap in the finances of between 30bn and 40bn, but she has been dealt a further blow with the decision by the Office for Budget Responsibility (OBR) to downgrade its productivity forecast a move that was first revealed by The Independent which means she must find a further 20bn."
Coverage spans reproductive rights, climate change and Big Tech, with reporters on the ground investigating financials, producing documentaries and parsing facts from political messaging. Donations fund journalists to travel and speak to both sides of stories, enabling continued reporting without paywalls. The outlet is trusted across the political spectrum and maintains that quality journalism should be available to everyone and funded by those who can afford it. Chancellor Rachel Reeves faces an initial Budget gap of £30bn–£40bn, worsened by an OBR productivity downgrade adding £20bn. The IFS warns that many small tax rises would cause unnecessary economic damage; the chancellor seeks increased fiscal headroom above £10bn to handle shocks.
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