Rachel Reeves: We are looking at tax hikes 

Rachel Reeves has said tax rises are likely to come at the Budget. Paul Grover/Daily Telegraph/PA Wire

Chancellor Rachel Reeves has revealed the government is considering making tax hikes at this year’s Budget, the first time she has made the admission in public.

In an interview with Sky News , Reeves admitted that the government was considering raising tax and cutting spending to fill a fiscal hole.

The Chancellor said she would “always make sure that the numbers add up” as she pointed to expected productivity downgrade s by the Office for Budget Responsibility (OBR) for contributing to a fiscal hole in the public finances.

“The Office of Budget Responsibility, who provide the independent forecasts for the government, have done a review over this summer looking at the supply side