'Bankrupt Britain'... tax threat amid flat economy

Reeves' Budget pressure mounts

- By Christian Calgie

NEWS that the economy flatlined in July is another warning that Rachel Reeves will raise taxes in her November Budget.

After a stronger-than-expected June, the Office for National Statistics revealed that GDP remained flat at 0% the following month, despite the Chancellor’s promise to deliver economic growth.

One leading politician declared last night: “Britain is bankrupt.”

The Conservatives said the figures are further proof taxes will have to be raised as Ms Reeves scrambles to fill a £40billion fiscal black hole that has emerged since her first Budget.

Shadow Chancellor Mel Stride said the government has been too distracted by the scandals of Angela Rayner and Peter Mandelson to deal with the UK’s problems.