Why UK Tax Hikes Loom as Reeves Faces Budget Dilemma: QuickTake

UK Chancellor of the Exchequer Rachel Reeves is heading into a difficult autumn budget as economists make a common prediction: tax rises are in store.

Reeves had said she’d stabilized the country’s finances at her inaugural budget last year, when she increased levies by £40 billion ($54 billion) to fund extra spending on public services and fill a budget hole left by the previous Conservative government.

But she’s expected to come back for more at her next big fiscal set-piece in the House of Commons, which is scheduled for Nov. 26. That’s left Britons facing the prospect of paying more ...