British Chancellor of the Exchequer Reeves told cabinet ministers that if a tax increase plan is included in the Labor Party's fall budget report, it may face even greater challenges. Compared to the £40 billion tax increase plan proposed in the fall of 2024, the scale of potential tax increases in the future will be even smaller. Reeves said his options were limited.

British Chancellor of the Exchequer Reeves told cabinet ministers that if a tax increase plan is included in the Labor Party's fall budget report, it may face even greater challenges. Compared to the £40 billion tax increase plan proposed in the fall of 2024, the scale of potential tax increases in the future will be even smaller. Reeves said his options were limited.