Rachel Reeves' expanding fiscal deficit is poised to worsen as the fiscal watchdog delivers its final productivity assessment to the Chancellor on Friday.

The Treasury is already struggling to manage public finances following a U-turn on welfare reforms that destroyed hopes of £5bn in savings, whilst a £190bn spending spree on government departments has helped erode the Chancellor's razor-thin £9.9bn fiscal headroom.

Reeves has repeatedly reinforced her "iron clad" fiscal rules to finance day-to-day public expenditure through tax receipts.

However, the commitment to these fiscal constraints has sparked speculation that the UK will face another fresh wave of taxes come November 26th (Budget) when she takes the dispatch box.

Concerns have only intensified due to the Office for Budget Res

See Full Page