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LONDON, Dec 10 (Reuters) – British finance minister Rachel Reeves said on Wednesday that she was frustrated with leaks about her budget before her November 26 tax and spending statement, including media reports about possible income tax rises.
Reeves had appeared to pave the way for an income tax rate hike – which would have been a breach of the Labour Party’s 2024 election promises – when she gave a pre-budget speech on November 4, saying everyone would have to contribute.
The Financial Times reported the following week that an income tax rate increase was not going to be in the budget.
“I would reiterate in the strongest terms that (budget) leaks are unacceptable,” Reeves told lawmakers on parliament’s Treasury Select Committee.
“The budget had too much speculation, there were too many leaks, and much of those leaks and speculation were inaccurate, very damaging, as well as the IT security issues … when the entire budget was inadvertently published.”
The Office for Budget Responsibility accidentally released key details of Reeves budget before she announced them in parliament on November 26.
“I want to say on the record how frustrated I am by these incidents and the volume of speculation and leaks,” Reeves said.
(Reporting by David MillikenWriting by Suban AbdullaEditing by William Schomberg)