Chancellor Rachel Reeves says it would be ‘irresponsible’ to rule out further tax rises

Chancellor Rachel Reeves said it would be “irresponsible” to rule out further tax rises following Labour’s historic budget.

Ms Reeves has gambled on a £40bn tax rise in a bid to boost public services and grow the economy.

She told the House of Commons that the increase – a record sum, equalled only by Norman Lamont in 1993 – coupled with a massive £32bn in extra borrowing was vital to “fix broken Britain”.

Speaking to Sky News after the budget on Wednesday (30 October), the chancellor said: “I’m not going to make commitments to never change taxes again, that would be irresponsible, but this is a once-in-parliament budget to wipe the slate clean after the mess the Conservatives left us.”