In the budget, Ms. Reeves is expected to either increase taxes or cut spending in order to find tens of billions of pounds if she is to stick to her self-imposed rules on lowering debt. But the chancellor recently presented her spending plans, so raising taxes seem to be only one way out of this bind. Ms. Reeves did not say in her speech that taxes were going to increase, but analysts have said she appears to be preparing the waters for an unpopular decision. The Labour Party promised before it was elected into government last year that it would not raise taxes on working people. Breaking that pledge is likely to infuriate many voters and provide ammunition to her political opponents.
