FILED - 09 October 2025, United Kingdom, London: UK Chancellor of Exchequer Rachel Reeves is pictured during a visit to the Sipsmith Distillery in Chiswick West London. Rachel Reeves needs to be "bold" when she delivers her Budget or face "groundhog day" with more cuts or tax rises next year, a think tank has warned. Photo: Paul Grover/Daily Telegraph/PA Wire/dpa
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