VAT Error: UK Borrowing Revised, Budget Pressure Remains
Update: 2025-10-08
Description
Oops! A £2 billion accounting error by the ONS has slightly lowered the UK's government borrowing figures, offering Chancellor Rachel Reeves a small reprieve. But don't celebrate yet! Despite the VAT miscalculation correction, massive tax hikes are still likely on the horizon to tackle Britain's towering £2.7 trillion debt and razor-thin budget headroom. Will Reeves pull a rabbit out of the hat in the upcoming Budget?
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