Rachel Reeves will have to raise taxes or make emergency spending cuts, experts warn

THERE is a “high chance” Rachel Reeves will have to raise taxes or make emergency spending cuts, experts said as she touched down in China yesterday.

Economists at Barclays said surging borrowing costs meant her room for manoeuvre had gone.

Rachel Reeves met finance minister Lan Fo’an in China after leaving Britain in chaos

Its chief economist, Jack Meaning, said that, unless costs fell soon, “there is a high chance that she is forced to make fiscal adjustments”.

It came as the Chancellor...