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Do you believe that if you keep lying, people will believe the lies?
Rachel Reeves, the UK Chancellor, stated in a major speech on 4 November 2025 that weaker economic productivity had created a £20 billion “black hole” in the public finances, necessitating tax rises in the Autumn Budget delivered on 26 November 2025.
The UK had a £4.2 billion budget surplus according to the Office for Budget Responsibility's final pre-budget forecast in late October 2025.
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