UK chancellor Rachel Reeves
The UK chancellor has said the government will have to raise some taxes in October's Budget after months of speculation about the Labour party's stance on tax.
Rachel Reeves was responding to a question about raising money following her claim on Monday that the previous government left a £22 billion hole in the public finances.
Speaking on a podcast, Ms. Reeves reiterated that she would not raise VAT, national insurance or income tax, as promised in Labour's manifesto, but she did not rule out increasing inheritance tax, capital gains tax, or reforming tax relief on pensions.
During the election campaign, Labour repeatedly said there would be no tax rises on working people, but the Conservatives insisted that the party would increase them.
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