By Alys Denby City A.M.’s consistent warning that the government will raise taxes in their first Budget have been vindicated. Rachel Reeves admitted that “I think we will have to increase taxes” to the News Agents podcast. Labour will no doubt rebut accusations that this is a violation of their election pledges with references to their weaselly caveat about ‘working people’. That is utterly spurious. The tax system ultimately affects everyone, regardless of employment status. What they really mean is that they will raise those taxes that their voters believe someone else will pay. City A.M. re…