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Chancellor in warning of tough choices to come as UK hit by global headwinds

Western Mail

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September 30, 2025

RACHEL Reeves has said she is facing "harsh global headwinds" as she hinted at further tax rises to come in the Budget.

- DAVID HUGHES

The Chancellor used her Labour Party conference speech to insist that she would keep control of the public finances and would "not take risks with the trust placed in us by the British people".

But she acknowledged that her choices had been made "harder" by international events and the "long-term damage" done to the economy.

Ahead of her keynote speech in Liverpool Ms Reeves had warned that "the world has changed" since she promised business chiefs she would not repeat the tax raid of her first Budget.

"I think everyone can see in the last year that the world has changed, and we're not immune to that change," the Chancellor told BBC Radio 4's Today programme.

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