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Reeves may have to find further cuts and tax hikes amid economic gloom

Rising costs and global uncertainty may force chancellor to turn to pensioners and wealthier taxpayers

Ministers may have to target pensioners and wealthier taxpayers at the autumn budget, as senior government figures voiced fears brutal welfare reforms would still not go far enough to tackle rising costs.

The Institute for Fiscal Studies warned the chancellor may be forced to consider a freeze on tax thresholds, hikes to capital gains and potentially pension taxes.

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