# Taxes and interest rates must go up and there have to be deep cuts in public spending, says HAMISH MCRAE | This is Money

> A commentary argues that the UK government will need deep spending cuts and probably tax increases, and that interest rates will have to rise. It cites the Office for Budget Responsibility's forecast that the 2026/27 deficit will be 4.2% of GDP, up from 3.6% in spring. The piece is opinion and does not report a new event.

- Date: 2026-11-01 · published 2026-11-01T12:09:17.919Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/8900-taxes-and-interest-rates-must-go-up-and-there-have-to-be-deep-cuts-in-public
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

This is opinion on the fiscal and rate outlook with no direct supply or demand effect on feed commodities. It adds little to the price outlook.

## Sources

- thisismoney.co.uk: https://www.thisismoney.co.uk/money/markets/article-16254821/Taxes-rates-deep-cuts-public-spending-says-HAMISH-MCRAE.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.