[Jimbuna]

Rachel Reeves confirms whether Brits will see new tax hikes after Donald Trump tariffs

Rachel Reeves has said working people will see "no rise in taxes in their pay slips" amid swirling concerns her wiggle room at the Treasury will run out.

Economists have warned the Chancellor that the cash left to give her room to manoeuvre with the public finances could be eaten up by Donald Trump's huge tariff announcement. It has raised fears she could be forced to hike taxes or cut public spending at the next Budget in the Autumn.

But, for the first time since the US President's bombshell move, Ms Reeves has reassured the public that she will not raise taxes on workers. "W orking people will see no rise in taxes in their pay slips, whether that's their national insurance, income tax, or indeed their VAT, or fuel duty,” she told broadcasters.

British businesses are facing a double whammy of 10% tariffs on all British products sold to the US and an increase in employers' National Insurance Contributions (NICs). Asked if one of the best ways to negate the impact of tariffs was to reverse the NICs hike, Ms Reeves said: “When I became Chancellor, we faced a £22billion black hole in the public finances.

"The decisions that I took in the budget last year both stabilised the public finances but also enabled us to invest £25billion in the NHS, and that money has meant that for the last five months in a row, we've seen NHS waiting lists fall, and within the first few months of this Labour government taking office, two million additional appointments are in our NHS.

"That's the difference that we are making, only possible because of those decisions that we took but working people will see no rise in taxes in their pay slips, whether that's their national insurance, income tax, or indeed their VAT, or fuel duty.”

Ms Reeves said that the Government is "determined to get the best deal we can" with the US after Mr Trump slapped tariffs on goods from the UK. "Well, of course, we don't want to see tariffs on UK exports, and we're working hard as a government in discussion with our counterparts in the US to represent the British national interest and support British jobs and British industry," the Chancellor said on Friday.
https://www.msn.com/en-gb/money/othe...1c69aa9e&ei=14