The UK government has doubled down on its commitment to fiscal responsibility, with Chancellor Rachel Reeves firmly ruling out tax increases for working people. This announcement comes just days before a pivotal Spending Review, scheduled for June 11th, where departmental and investment budgets for the next three years will be unveiled.

Speaking in Rochdale, Reeves described the government’s fiscal rules as “non-negotiable,” emphasizing her unwavering determination to maintain market confidence in the government’s ability to manage public spending. She explicitly dismissed the possibility of tax hikes mirroring the substantial £40 billion increase seen in last October’s Budget. “We have absolutely no intention of repeating a budget on that scale again,” she stated.

However, this steadfast commitment to avoiding tax rises has been met with caution from economists who foresee “unavoidably tough choices” ahead. The upcoming Spending Review will undoubtedly require difficult decisions to balance the government’s fiscal priorities with the need for responsible spending.