Reeves already out of headroom despite tax rises, says top economists

Rachel Reeves already out of headroom despite buffer following record £26billion Budget tax raid

Rachel Reeves has exhausted her remaining Budget headroom despite raising taxes by £26billion in November, Britain’s oldest independent economic research institute claims.The National Institute of Economic and Social Research (NIESR) said rising unemployment and weak economic growth had left the Chancellor on track to meet her borrowing rules with no margin for error.The think-tank warned any further deterioration in the economic outlook could p…

Reeves already out of headroom despite tax rises, say top economists

Think tank suggests high unemployment and weak growth will leave Chancellor without wiggle room