Spike in UK Borrowing Costs Wipes Out Reeves’ Fiscal Headroom
2 months ago

Spike in UK Borrowing Costs Wipes Out Reeves’ Fiscal Headroom

Live Mint  

The increase in UK borrowing costs since last week’s budget has wiped out all of Chancellor of the Exchequer Rachel Reeves’ headroom against her main fiscal rule, raising the prospect of further tax rises or spending cuts unless the debt picture changes. Tom Josephs, a senior member of the UK’s fiscal watchdog, told lawmakers Tuesday that a 0.3 percentage point rise in government borrowing costs would eliminate all of the £9.9 billion of space against Reeves’ “current budget” rule that day-to-day spending must be paid out of tax. The narrow fiscal space on the debt rule was partly related to an error by the OBR, which had overestimated PSNFL by £18 billion for the previous Conservative government’s final budget in March. Hughes told the House of Lords Economic Affairs Committee at a separate event Tuesday that the OBR “realized this error several months ago” and gave the Treasury “a re-based forecast” long before Reeves’ budget on Oct. 30.

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History of this topic

Labour's borrowing costs surge 'worse than Liz Truss chaos': Rachel Reeves faces spending crisis after interest rates hit 27-year high on fears of 'Stagflation'
3 days, 1 hour ago

Labour's borrowing costs surge 'worse than Liz Truss chaos': Rachel Reeves faces spending crisis after interest rates hit 27-year high on fears of 'Stagflation'

Daily Mail  

Rachel Reeves has been warned that the spike in UK borrowing costs is worse than the crisis that ended Liz Truss's premiership. The interest rate on 30-year gilts - the government's long-term financing vehicle - approached 5.25 per cent yesterday, the highest level for 27 years. Rachel Reeves has been warned that the spike in UK borrowing costs is worse …

Reeves spending review ‘to be next big challenge’ as growth flatlines
2 weeks, 1 day ago

Reeves spending review ‘to be next big challenge’ as growth flatlines

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “She’s not given herself huge wiggle room against her fiscal targets and the spending plans …

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?
3 weeks ago

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?

The Independent  

Fun fact: the OECD still predicts that Britain’s economy will be one of the stars of the G7 during 2025 with growth of 1.7 per cent, lagging only behind the US at 2.4 per cent. Labour’s tax-raising budget, and particularly the decision to raise £24bn by hiking employer national insurance contributions looms large over UK plc. The Bank of England’s …

UK economy shrinks again in another blow to Reeves, new figures show
4 weeks, 1 day ago

UK economy shrinks again in another blow to Reeves, new figures show

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves said the figures were disappointing “We are determined to deliver economic growth as …

Is Rachel Reeves’ spending review a veiled return to austerity?
4 weeks, 2 days ago

Is Rachel Reeves’ spending review a veiled return to austerity?

The Independent  

Today’s clash between ministers and trade unions over public sector pay – after the government recommended a 2.8 per cent rise for teachers, NHS workers and civil servants – was always going to happen. Unions viewed this summer’s generous increases as merely the start of “catching up” after restraint since 2010 which saw public sector workers fall behind those in …

Savings target different to Osborne’s austerity-era cuts, says Reeves
1 month ago

Savings target different to Osborne’s austerity-era cuts, says Reeves

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Real-terms spending will increase during the course of this Parliament, but we need to …

Reeves warns ministers of cuts as ‘every pound’ of government spending to face review
1 month ago

Reeves warns ministers of cuts as ‘every pound’ of government spending to face review

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Cabinet ministers have been warned they must find more savings in …

UK interest rates ‘to fall more slowly’ after tax rises and spending hikes in Rachel Reeves’ Budget
1 month, 1 week ago

UK interest rates ‘to fall more slowly’ after tax rises and spending hikes in Rachel Reeves’ Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK interest rates will fall more slowly than expected following the …

Labour tax U-turn? Rachel Reeves refuses to rule out more rises despite CBI pledge
1 month, 1 week ago

Labour tax U-turn? Rachel Reeves refuses to rule out more rises despite CBI pledge

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves refused to rule out more tax rises As MPs voted through the controversial …

Starmer and Reeves row back from ‘no more borrowing or taxes’ pledge
1 month, 2 weeks ago

Starmer and Reeves row back from ‘no more borrowing or taxes’ pledge

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sir Keir echoed that comment in the House of Commons when challenged by Conservative …

ONS figures reveal surge in borrowing: does this mean taxes will have to rise again?
1 month, 2 weeks ago

ONS figures reveal surge in borrowing: does this mean taxes will have to rise again?

The Independent  

The latest public sector borrowing figures are enough to have anyone inside 11 Downing Street heading for the drinks cabinet. The total came to £17.4bn in October; that’s £1.6bn more than this time last year, £5bn higher than City forecasts, and the second highest October number since monthly records began in January 1993. The government also spent £9.1bn on interest …

How Reeves can save the ‘crown jewel’ of Britain’s economy
1 month, 3 weeks ago

How Reeves can save the ‘crown jewel’ of Britain’s economy

The Telegraph  

Rachel Reeves says she believes the City of London is the “crown jewel” of Britain’s economy. Speaking at the annual Mansion House dinner on Thursday, Reeves said post-crisis regulation had “resulted in a system which sought to eliminate risk-taking. That has gone too far and, in places, it has had unintended consequences which we must now address.” The urgency of …

It's official... Rachel Reeves DID deliver the biggest tax-raising Budget on record: OBR watchdog's database shows Chancellor hiked the burden by £41.5bn - MORE than Norman Lamont's notorious 1993 rai
1 month, 3 weeks ago

It's official... Rachel Reeves DID deliver the biggest tax-raising Budget on record: OBR watchdog's database shows Chancellor hiked the burden by £41.5bn - MORE than Norman Lamont's notorious 1993 rai

Daily Mail  

Rachel Reeves has been handed an unwanted historical distinction - as official figures showed her Budget was the biggest tax-raiser on record. Rachel Reeves has been handed an unwanted historical distinction - as official figures showed her Budget was the biggest tax-raiser on record The OBR keeps a database of Budget measures based on the value they were 'scored' at …

Reeves accused of business ‘betrayal’ as top bank warns over tax hikes
1 month, 4 weeks ago

Reeves accused of business ‘betrayal’ as top bank warns over tax hikes

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. In a note to clients seen by The Daily Telegraph, economists at the bank said: …

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle
2 months ago

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves’ Budget, which she …

UK debt woe as borrowing costs surge again amid fresh market jitters
2 months ago

UK debt woe as borrowing costs surge again amid fresh market jitters

Daily Mail  

UK borrowing costs hit a post-Budget peak yesterday Yields on ten-year UK bonds – known as gilts – surpassed levels seen last week to reach a new one-year high of 4.541 per cent. Debt shock: Yields on ten-year UK bonds – known as gilts – surpassed levels seen last week to reach a new one-year high of 4.541% That has …

Will the Budget cost you money - and did Rachel Reeves do a good job? This is Money podcast
2 months, 1 week ago

Will the Budget cost you money - and did Rachel Reeves do a good job? This is Money podcast

Daily Mail  

Rachel Reeves' maiden Budget saw the first-ever female chancellor make £40billion of sweeping tax rises in to plug funding gaps in the NHS and schools. Among the Autumn Budget losers were landlords, investors and those who have stashed wealth in their pension, as stamp duty, capital gains tax and inheritance tax all came under the spotlight. We also dig into …

Financial market worries over the UK budget appear to ease
2 months, 1 week ago

Financial market worries over the UK budget appear to ease

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Voters slam Labour's tax and spend Budget: Only a fifth of Brits think Rachel Reeves' blueprint will boost the economy and half oppose Chancellor squeezing firms to fill Treasury coffers
2 months, 1 week ago

Voters slam Labour's tax and spend Budget: Only a fifth of Brits think Rachel Reeves' blueprint will boost the economy and half oppose Chancellor squeezing firms to fill Treasury coffers

Daily Mail  

Only a fifth of voters believe Labour's tax and spend Budget will improve the UK economy, a new poll revealed today as Rachel Reeves continued to feel the heat. It came as the Chancellor and her Treasury team faced pressure and market jitters over a Budget that will raise £40billion through new taxes towards increased state spending of almost £70 …

S&P and Moody’s warn of fresh constraints to public finances after Budget
2 months, 1 week ago

S&P and Moody’s warn of fresh constraints to public finances after Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ratings agencies S&P and Moody’s …

Chancellor seeks to calm markets amid jitters after Budget borrowing spree
2 months, 1 week ago

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves is seeking …

Martin Lewis blasts Rachel Reeves for not coming on his ITV Money Show as he tears apart Autumn Budget in a brutal rant
2 months, 1 week ago

Martin Lewis blasts Rachel Reeves for not coming on his ITV Money Show as he tears apart Autumn Budget in a brutal rant

Daily Mail  

Martin Lewis publicly blasted the Chancellor for not appearing on his popular ITV show yesterday and said she had 'missed the chance to give her interpretation' on the Autumn Budget. Martin Lewis publicly blasted the Chancellor for not appearing on his popular ITV show yesterday and said she had 'missed the chance to give her interpretation' In a package that …

Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s
2 months, 1 week ago

Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s

The Telegraph  

Britain faces years of “muted” growth and higher borrowing costs after Rachel Reeves’ maiden Budget, Moody’s has warned. Moody’s also warned that higher spending on infrastructure would only boost growth if ministers successfully tackled issues that have dogged the UK economy for years, such as the worklessness crisis and long planning delays. “We expect growth in our baseline to remain …

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank
2 months, 1 week ago

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank

Daily Mail  

Even before the dust has settled on Chancellor Rachel Reeves's Budget, it is becoming increasingly apparent that it will be disastrous for Britain. Imposing tax increases on a scale rarely seen outside of wartime, recession or pandemic, and embarking on a colossal borrowing binge to fund public services, she has taken a huge gamble with the economy. The Chancellor Rachel …

Interest on national debt tops £100bn a year as a result of Labour's Budget borrowing binge
2 months, 1 week ago

Interest on national debt tops £100bn a year as a result of Labour's Budget borrowing binge

Daily Mail  

Britain will spend more than half a trillion pounds servicing the national debt between now and the end of the decade, Budget documents reveal. The Office for Budget Responsibility said debt interest payments would total £672billion between 2024-25 and 2029-30 – or more than £100billion a year. Ball and chain: The Office for Budget Responsibility said debt interest payments will …

Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’
2 months, 1 week ago

Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “How the Budget red book can include the sentence ‘the …

Reeves admits NI hike could hit pay rises while markets react to borrowing spree
2 months, 1 week ago

Reeves admits NI hike could hit pay rises while markets react to borrowing spree

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It will mean that businesses will have to absorb …

ALEX BRUMMER: It's no surprise the IMF has endorsed Reeves' bleak Budget - she was hobnobbing with its officials only last week and it's dominated by an anti-Brexit clique!
2 months, 1 week ago

ALEX BRUMMER: It's no surprise the IMF has endorsed Reeves' bleak Budget - she was hobnobbing with its officials only last week and it's dominated by an anti-Brexit clique!

Daily Mail  

Rachel Reeves was in her element at the annual meeting of the International Monetary Fund in Washington last week. Chancellor Rachel Reeves with, from left, Canadian finance minister Chrystia Freeland, US treasury secretary Janet Yellen and ECB president Christine Lagarde And out of sight of the media, Reeves engaged in some discreet economic diplomacy with US treasury secretary Janet Yellen …

Has the Reeves Budget made it through Day 2 relatively unscathed?
2 months, 1 week ago

Has the Reeves Budget made it through Day 2 relatively unscathed?

The Independent  

The broadcasters flew no helicopter over the Institute for Fiscal Studies’ modest premises in Bloomsbury on Thursday morning, but the verdict issued by Paul Johnson and his team is almost as important as the Budget itself, which got the full Skycopter treatment. He said her new primary fiscal rule was “sensible”, and that the spending increases look big relative to …

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest
2 months, 1 week ago

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery According to the Office for …

Government borrowing costs rise further after Budget
2 months, 1 week ago

Government borrowing costs rise further after Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Government borrowing costs leapt higher …

Rachel Reeves gambles on £40bn tax rise in her first Budget
2 months, 1 week ago

Rachel Reeves gambles on £40bn tax rise in her first Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves gambled …

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns
2 months, 1 week ago

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Johnson said: “The growth forecasts are pretty awful, there …

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden
2 months, 1 week ago

Brits will end up being paid less after Labour's Budget, admits Rachel Reeves as she refuses to rule out MORE tax hikes and economists warn growth will be crushed record burden

Daily Mail  

This video is no longer available This video is no longer available Rachel Reeves admitted Brits will see lower wages as a result of her Budget mega-raid today - amid warnings she will be back for more. Rachel Reeves on a visit to a hospital in Coventry with Keir Starmer today after delivering her Budget The OBR said the Budget …

Tax calculator UK: Check out how Rachel Reeves’ Budget will affect you
2 months, 1 week ago

Tax calculator UK: Check out how Rachel Reeves’ Budget will affect you

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

DAILY MAIL COMMENT: This was a painful budget - with worse to come
2 months, 1 week ago

DAILY MAIL COMMENT: This was a painful budget - with worse to come

Daily Mail  

There are three kinds of lies, said Mark Twain. In her first Budget, Chancellor Rachel Reeves cynically reneged on those promises with a £40billion tax bombshell. Chancellor Rachel Reeves said the country had 'voted for change' and vowed to 'invest' as she mounts one of the biggest raids in history in the Commons Ms Reeves carried out the traditional photo …

Borrowing costs surge as markets turn on Reeves
2 months, 1 week ago

Borrowing costs surge as markets turn on Reeves

The Telegraph  

The lurch upwards pushed the gap between British and German borrowing costs to their widest since the wake of the Liz Truss mini-Budget, reflecting the extra premium on UK debt. The Chancellor scrambled to calm investor nerves on Thursday, insisting that the “number one commitment” of the Labour Government was “economic and fiscal stability”. However, Megum Muhic, of RBC Capital …

Rachel Reeves Unveils Massive Tax Hikes in Historic Budget Speech
2 months, 1 week ago

Rachel Reeves Unveils Massive Tax Hikes in Historic Budget Speech

China Daily  

British Chancellor Rachel Reeves presented her first budget speech to Parliament, outlining the government's fiscal plan and steps to achieve economic stability. The speech included tax rises of 40 billion pounds, a record figure for modern times, along with spending increases in healthcare, housing, and education. Reeves also announced a review of the independent economic forecast unit, the OBR, and …

Rachel Reeves Unveils Bold Fiscal Plan: A Manifesto for Britain's Future
2 months, 1 week ago

Rachel Reeves Unveils Bold Fiscal Plan: A Manifesto for Britain's Future

China Daily  

Rachel Reeves, the British government's finance minister, unveiled her fiscal plan, outlining tax rises and spending increases to restore economic stability and turn the page on the Conservative Party's rule. The plan includes a 40 billion-pound tax rise, a record figure for modern times, along with spending increases in healthcare, housing, and education.

Watch: Office for Budget Responsibility responds to Rachel Reeves’ £40bn tax hikes
2 months, 1 week ago

Watch: Office for Budget Responsibility responds to Rachel Reeves’ £40bn tax hikes

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Watch as chair …

Reeves' sniffle makes the bond markets shiver, says PATRICK TOOHER
2 months, 1 week ago

Reeves' sniffle makes the bond markets shiver, says PATRICK TOOHER

Daily Mail  

Rachel Reeves clearly loves her new borrowing rules. Bending the rules: The Chancellor has ditched the old way of measuring the parlous state of the public finances so that she can borrow more to fund a spending spree But no amount of magic wand-waving and crystal-ball gazing can hide the fact the national debt remains on an ‘unsustainable’ course. Even …

A Halloween Budget that was as much trick as treat
2 months, 1 week ago

A Halloween Budget that was as much trick as treat

The Independent  

The first Labour Budget for 14 years, and the first ever from a female chancellor of the Exchequer, was impressive in its presentation. The danger, both economic and political, is that Ms Reeves will have to return to the Commons near Halloween in a few years’ time with another “horror story” and terrify hard-pressed taxpayers once again. In her Budget …

Will Rachel Reeves’s borrow-and-spend Budget actually work?
2 months, 1 week ago

Will Rachel Reeves’s borrow-and-spend Budget actually work?

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Chancellor Rachel Reeves …

Reeves uses first Budget to hike taxes, increase...
2 months, 1 week ago

Reeves uses first Budget to hike taxes, increase...

Daily Mail  

Rachel Reeves raised taxes to a historic high and sent borrowing soaring as she gambled on increased spending to boost growth and repair public services. But despite Labour’s promises to protect “working people”, a £25.7 billion increase in national insurance contributions paid by employers is likely to reduce wages and lead to job losses. Rebuilding Britain.” But Tory leader Rishi …

Reeves uses first Budget to hike taxes, increase borrowing and boost spending
2 months, 1 week ago

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But despite Labour’s promises to protect “working people”, a …

Martin Lewis gives his reaction to the budget: From hiking employers' National Insurance to inheritance tax on pensions, the money saving expert's verdict on Rachel Reeves' £40billion tax raid
2 months, 1 week ago

Martin Lewis gives his reaction to the budget: From hiking employers' National Insurance to inheritance tax on pensions, the money saving expert's verdict on Rachel Reeves' £40billion tax raid

Daily Mail  

Martin Lewis has given a definitive run down on Rachel Reeves' Budget, as he warned that 'someone will have to pay' for Labour's new policies. Feel free to share pic.twitter.com/ewDye8xn2S — Martin Lewis October 30, 2024 Mr Lewis, the founder of MoneySavingExpert.com, asked how the businesses will pay for a £615 surge per employee 'For the employers who pay it, …

DAN HODGES: This Budget was crude, old-fashioned class politics... and that's why it's bad news for the Tories
2 months, 1 week ago

DAN HODGES: This Budget was crude, old-fashioned class politics... and that's why it's bad news for the Tories

Daily Mail  

In the run up to her first Budget, Rachel Reeves set a trap for the Tories. Over the last few weeks, a flurry of leaks indicated she was set to break her election pledge not to raise taxes on working people, but it was all a political feint, DAN HODGES writes But she knew it was real long before, because …

Rachel Reeves drops £40BILLION 'tax bomb' in Budget: Chancellor hammers firms with £25bn NICs hike as she targets inheritances and landlords in one of biggest EVER raids - but blames the Tories
2 months, 1 week ago

Rachel Reeves drops £40BILLION 'tax bomb' in Budget: Chancellor hammers firms with £25bn NICs hike as she targets inheritances and landlords in one of biggest EVER raids - but blames the Tories

Daily Mail  

Rachel Reeves delivered a massive £40billion 'tax bomb' Budget that could define the Labour government today. From then on it will have to be balanced in the third year of the forecast; Employers' national insurance contributions will rise by 1.2 percentage points to 15 per cent in April 2025, and the threshold for paying them will fall from £9,100 per …

What the Autumn Budget 2024 means for you: How Rachel Reeves' £40bn tax rises will hit
2 months, 1 week ago

What the Autumn Budget 2024 means for you: How Rachel Reeves' £40bn tax rises will hit

Daily Mail  

Chancellor Rachel Reeves has revealed £40billion worth of tax hikes and a surge in government borrowing in a highly anticipated Autumn Budget. > Full list of benefit rises announced in the Budget > What the capital gains tax hike means for you: How small investors will be hit > No Budget boost for first-time buyers - five months to avoid …

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