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RACHEL Reeves has refuted allegations of misleading the public after being accused of fabricating a £30 billion deficit to justify her tax increases.
The embattled Chancellor stated that the Budget adjustments were necessary after workers faced significant tax hikes to support substantial rises in the welfare budget.
Rachel Reeves departs from 11 Downing Street with the budget despatch box to deliver her second Budget statement in the House of CommonsCredit: Alamy
Nearly one million additional Brits will fall into the higher income tax bracket after she reneged on her promise to end threshold freezesCredit: PA
The Chancellor spent several weeks cautioning Britain that she faced “difficult choices,” while being accused of orchestrating a left-leaning “Budget for Street” that unfairly taxed hard-working individuals.
She asserted that an unexpected downgrade in productivity had created a significant gap in the nation's finances.
However, the Office for Budget Responsibility revealed that it had informed Reeves that she actually had a £4.2 billion surplus, indicating that her fiscal objectives were already achieved without the need for any tax increases.
Nearly one million additional Brits will fall into the higher tax bracket after she broke her promise to eliminate threshold freezes.
The beleaguered Chancellor is now under scrutiny amid accusations that she fabricated the £30 billion “black hole.”
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Frequently Asked Questions
What is the £30 billion black hole accusation about?
The accusation suggests that Chancellor Rachel Reeves fabricated a £30 billion deficit to justify her tax increases, which she has denied.
What did the Office for Budget Responsibility report?
The Office for Budget Responsibility reported that Chancellor Reeves actually had a £4.2 billion surplus, indicating that her fiscal goals were met without needing to raise taxes.
Eze Chidiebere Paul
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