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Following the 2025 Spending Review, experts have warned that Chancellor Rachel Reeves will have to raise taxes in the Autumn Budget to fill a shortfall of up to £23 billion.
The UK economy contracted by 0.3% in April as tax increases kicked in and exporters faced uncertainty over US trade tariffs.
The government must 'make every taxpayer pound count' in the Spending Review, the Federation of Small Businesses (FSB) has warned.