Will Rachel Reeves have to hike taxes again?

Businesses should brace for a “painful sequel to the autumn Budget” this year as lacklustre growth raises the threat of further tax hikes from Rachel Reeves, Deutsche Bank has warned. In a note to investors, the investment bank warned that growth was likely to slide below the Office for Budget Responsibility’s (OBR) projections in October after the economy flatlined toward the end of last year. The UK economy shrank 0.1 per cent in October in its second consecutive monthly contraction. Traders have also reined in their bets on interest rate cuts in the next 12 months, meaning that “big revisions” were likely to the OBR’s macroeconomic projections, according to Deutsche Bank. Read more of the story here 👇 https://www.cityam.com/a-painful-sequel-to-the-budget-may-be-coming-deutsche-bank-warns/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Jessica Frank-Keyes, Joseph Curay Teneda, Emmanuel Nwosu #tax #news #politics #economy #economics #budget #uknews #ukpolitics #ukeconomy #personalfinance #business #businessnews