The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week. Politics and Government, Capital Gains Tax, Economic Conditions and Trends, Income Tax, Budgets and Budgeting, Labour Party (Great Britain), Reeves, Rachel (1979- ), Starmer, Keir, Great Britain The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week. NYT > Business