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World

Why the Israel-Iran war could raise your taxes

15 June 2025

9:26 PM

15 June 2025

9:26 PM

If Rachel Reeves is to have any chance of making it to her autumn budget without U-turns or raising taxes, the improved economic forecasts of recent months need to come true. Missiles flying between Israel and Iran may destroy that hope.

Things had been getting better for the Chancellor. Look at economic forecasts from the aftermath of Trump’s ‘liberation day’, and there was a common theme when it came to Britain.

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