Reeves' Budget Cuts Expected Amid Economic Concerns

British finance minister Rachel Reeves is expected to announce spending cuts to address a slowing economy and maintain budgetary targets. Concerns are raised about a substantial tax hike and its implications on employment and public services, with critics pointing to potential harm from increased National Insurance taxes. Councils face funding challenges, possibly leading to higher local taxes and reduced services. There are also fears of a freeze on income tax thresholds, pushing more individuals into higher tax brackets and affecting pensioners through 'fiscal drag.' Reeves’ strategy, including possible cuts to public sector jobs, aims to balance fiscal responsibility with the need for economic growth and national security.