The taxes Labour could raise to plug spending shortfalls

Chancellor Rachel Reeves has warned Labour inherited a 'black hole' spending gap from the Tories

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Labour has been careful not to rule out increasing capital gains tax as one way of raising revenue
(Image credit: pces609 / Getty Images)

Rachel Reeves has warned she needs to make "tough decisions" to restore economic stability to the UK, and that could include tax rises.

Speaking to Parliament this week to outline the spending inheritance left by the previous Tory government, the chancellor highlighted £22 billion of "unfunded and undisclosed" costs

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Marc Shoffman is an NCTJ-qualified award-winning freelance journalist, specialising in business, property and personal finance. He has a BA in multimedia journalism from Bournemouth University and a master’s in financial journalism from City University, London. His career began at FT Business trade publication Financial Adviser, during the 2008 banking crash. In 2013, he moved to MailOnline’s personal finance section This is Money, where he covered topics ranging from mortgages and pensions to investments and even a bit of Bitcoin. Since going freelance in 2016, his work has appeared in MoneyWeek, The Times, The Mail on Sunday and on the i news site.