UK Finance Minister Rachel Reeves has not ruled out the possibility of further tax increases during the current parliamentary term, despite the recent announcement of a £26 billion ($34.4 billion) package aimed at boosting budget revenues and stabilizing the country's public finances.

In an interview with Bloomberg TV, when asked whether she could guarantee there would be no additional direct or indirect tax hikes in the coming years, Reeves responded: “No finance minister can set out future budgets in advance. My job has always been, and will continue to be, to grow the economy so that we can keep taxes under control and invest in public services.”

The budget recently presented by the minister is one of the largest in the past decade in terms of tax changes. The package includes measures such as extending the freeze on income tax thresholds beyond 2028, as well as introducing higher levies on property, pensions, gambling, and dividends.

Defending her decisions, Reeves emphasized: “I have always made it clear that I will never take public finances lightly. It is ordinary working people and businesses who pay the price when such changes occur.”

The adopted tax and budget measures have increased Reeves' financial buffer under her main fiscal rule to £22 billion, up from £9.9 billion recorded in March. Financial markets have responded positively to the expansion of fiscal space.