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Rachel Reeves put Britain on notice for some hefty Budget tax rises by warning of the importance that “people understand the circumstances we are facing”.

Ahead of the November 26 Budget, she pledged it would be “fair” and also laid out some of her priorities including cutting waiting lists, the cost of living and the national debt.

But with the public finances in a dire state, the Chancellor prepared the nation to be hit with higher levies and some possible spending cuts.

In a speech in Downing Street, she was set to say: “You will all have heard a lot of speculation ab

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