Rachel Reeves has set the groundwork for tax rises in an unusual pre-Budget speech at Downing Street on Tuesday morning.

She reiterated that she will make “the choices necessary to deliver strong foundations for the economy,” including protecting the NHS, reducing national debt, and tackling the cost of living.

The comments come ahead of the Autumn Budget later this month, which is widely expected to include tax rises, despite Labour’s manifesto pledge not to increase income tax, National Insurance, or VAT.

In a speech from Downing Street on Tuesday , the Chancellor said: "I will do what is necessary to protect families from high inflation and interest rates, to protect our public services from a return to austerity and to ensure that the economy that we hand down to future generation

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