The controversy surrounding a claimed £22 billion 'black hole' in the UK's budget has intensified, with key figures and institutions weighing in. Former Bank of England economist Andy Haldane criticized Labour's Rachel Reeves for comments that he believes unnecessarily alarmed consumers, businesses, and investors. Meanwhile, Chancellor Jeremy Hunt has labeled the claim as 'bogus' and falling apart, a sentiment echoed by the Treasury's reluctance to release detailed figures, citing the need for accuracy. This dispute has sparked fears of potential tax increases and spending cuts, highlighting the political and economic tensions ahead of upcoming budget announcements.
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