UK can tax wealthy to close big fiscal gap

Difficult task: Reeves speaking at a press conference in London. She is set to present her first budget on Oct 30. — Reuters

London: British Chancellor of the Exchequer Rachel Reeves could push through over £20bil of tax hikes at the upcoming budget without breaking any election pledges by targeting inheritances and capital gains, according to the Resolution Foundation.

Reeves is under pressure to plug what she claims is a £22bil fiscal hole left by the previous Conservative government.