Middle earners look increasingly likely to face a fresh tax squeeze after a rout on gilt markets yesterday threatened to blow a £6 billion hole in John Healey's Budget plans.

Middle earners look increasingly likely to face a fresh tax squeeze after a rout on gilt markets yesterday threatened to blow a £6 billion hole in John Healey's Budget plans.

Chancellor John Healey is likely to roll-out "large tax hikes" at this year’s Budget due to a rout in global bond markets, economists warned.