Millions of working people will suffer from Reeves’s first Budget, warns OBR
1 month, 3 weeks ago

Millions of working people will suffer from Reeves’s first Budget, warns OBR

The Telegraph  

Millions of working people will suffer from Rachel Reeves’ Budget tax raid, the Government’s fiscal watchdog has warned. Workers will pay for 80pc of the Chancellor’s increase in employer National Insurance in the long term through lost wage increases and lower income, according to the Office for Budget Responsibility. Homeowners also face hundreds of pounds more in mortgage bills, with the OBR saying that Ms Reeves’ borrowing binge would drive up inflation and mean higher interest rates for longer. However, in its Economic and Fiscal Outlook, the OBR warned: “We assume that firms pass on most but not all of their higher tax costs to employees.” In 2025-26, when the NICs rise kicks in, workers and consumers will bear 60pc of the burden via lower wages and higher prices, while businesses will absorb 40pc of the costs through lower post-tax profits, the OBR said.

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History of this topic

Rachel Reeves is accused of 'outright falsehood' after claiming she protected 'working people' by not hiking their NI in her Budget
5 days ago

Rachel Reeves is accused of 'outright falsehood' after claiming she protected 'working people' by not hiking their NI in her Budget

Daily Mail  

Rachel Reeves was yesterday accused of ‘outright falsehood’ over her claims about Labour’s handling of the economy The Chancellor was mauled by former Bank of England official Andrew Sentance over her response to figures showing inflation climbed to 2.6 per cent in November, an eight-month high amid increasing evidence that the party is derailing Britain’s recovery. Ms Reeves claimed in …

UK economy shrinks again in another blow to Reeves, new figures show
1 week, 3 days 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 …

New Budget blow to Rachel Reeves as disability charity says it may be forced to scrap key services
1 week, 5 days ago

New Budget blow to Rachel Reeves as disability charity says it may be forced to scrap key services

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 A leading disability charity has warned it may be forced to …

Business confidence tumbles to two-year low following Reeves’s raid on employers
2 weeks ago

Business confidence tumbles to two-year low following Reeves’s raid on employers

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 Confidence among business leaders has …

UK business confidence lowest since COVID pandemic, IoD says
Trending News
3 weeks, 1 day ago

UK business confidence lowest since COVID pandemic, IoD says

Live Mint  

By David Milliken LONDON, Dec 1 - Britain's Institute of Directors said on Sunday that optimism among its members had fallen to the lowest since the onset of the COVID-19 pandemic, following tax rises in finance minister Rachel Reeves' first budget on Oct. 30. Investment plans and employment intentions were the weakest since May 2020 last month, while a gauge …

Reeves Budget is a 'tax on the working person' and will make flight more expensive, warns incoming EasyJet boss
3 weeks, 5 days ago

Reeves Budget is a 'tax on the working person' and will make flight more expensive, warns incoming EasyJet boss

Daily Mail  

EasyJet's departing boss hailed booming demand for international travel as the budget airline’s profits beat pre-Covid levels. But his successor, Kenton Jarvis, labelled Chancellor Rachel Reeves’s decision to hike air passenger duty in the Budget as a ‘tax on the working person’ that will make flights more expensive. Budget pain: Kenton Jarvis, who takes over as EasyJet boss from John …

CBI chief hits out at Reeves after firms face ‘heavy burden’ from tax rises
4 weeks ago

CBI chief hits out at Reeves after firms face ‘heavy burden’ from tax rises

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 caught firms …

Budget risks causing job cuts, says Bailey
1 month ago

Budget risks causing job cuts, says Bailey

The Telegraph  

The Governor of the Bank of England has warned Rachel Reeves’s tax-raising Budget has put jobs at risk. Andrew Bailey said retailers were “right” to warn of potential job cuts as a result of the £40bn of tax rises in the Chancellor’s speech last month, referring to an industry-wide letter published today. Dozens of Britain’s biggest retailers have warned Ms …

UK economy under Labour stalls - what that means for you and your money
1 month, 1 week ago

UK economy under Labour stalls - what that means for you and your money

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 has said …

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over Budget
1 month, 1 week ago

Job losses and price hikes inevitable, warn UK’s biggest firms in stark message to Rachel Reeves over 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 Price hikes and job cuts are inevitable following Labour’s Budget, business …

Reeves accused of business ‘betrayal’ as top bank warns over tax hikes
1 month, 1 week 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: …

Reeves unleashes surge in public sector pay rises
1 month, 1 week ago

Reeves unleashes surge in public sector pay rises

The Telegraph  

The CIPD described this as a “post-election bounce back in the public sector”, which also includes a surge in hiring expectations for those in government service. He added: “Improvements to people management capability and technology adoption will be needed to raise efficiency in the public sector to respond to rising demands on services and spending constraints over the longer-term.” ‘Barrier …

Reeves to make pensions pitch in first Mansion House speech
1 month, 1 week ago

Reeves to make pensions pitch in first Mansion House speech

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. Launching her pension changes, which Treasury sources have said …

Pubs and restaurants tell Reeves they face closures and ‘drastic’ job cuts after tax raid
1 month, 1 week ago

Pubs and restaurants tell Reeves they face closures and ‘drastic’ job cuts after tax raid

The Telegraph  

Britain’s biggest pubs, hotels and restaurants have told Rachel Reeves they face being forced to shut sites and make “drastic” job cuts after the Chancellor launched a tax grab on employers. In a letter to Ms Reeves, more than 200 hospitality bosses warned the sharp increases in National Insurance contributions were “unsustainable” and would lead to venues shutting down and …

Asda chief lashes out at Reeves’s ‘very, very damaging’ Budget
1 month, 2 weeks ago

Asda chief lashes out at Reeves’s ‘very, very damaging’ Budget

The Telegraph  

Asda’s chairman has hit out at Rachel Reeves’s “very, very damaging” tax rises, warning it will force the supermarket to look closely at how many workers it can afford to employ. Lord Rose said it was “perfectly” clear that the Chancellor had not delivered a Budget for businesses, saying extra taxes were “disproportionately heavy” on larger companies which employ a …

Pay growth slumps to near four year low
1 month, 2 weeks ago

Pay growth slumps to near four year low

The Telegraph  

Pay growth has slumped to its lowest pace since February 2021 as bosses warn Rachel Reeves’ Budget tax raid will hit hiring. Permanent wage growth dropped from 52.8 in September to nearly a four-year low of 52.5 in October, just before the Chancellor’s Autumn Statement, according to the KPMG and REC UK Report on Jobs index. Demand for staff fell …

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England
1 month, 2 weeks ago

Rachel Reeves driving up prices with tax and spend Budget, warns Bank of England

The Telegraph  

In his first assessment of the Chancellor’s maiden Budget, Governor Andrew Bailey said a “substantial” increase in public spending and tax changes that “clearly raise the cost of employment” will drive prices higher over the next three years. It came as shares on Wall Street continued to scale record highs amid expectations of a fresh wave of tax cuts and …

Reeves’s tax raid warning wipes £300m off house building giant
1 month, 2 weeks ago

Reeves’s tax raid warning wipes £300m off house building giant

The Telegraph  

Housebuilder Persimmon suffered a £300m reduction in its value on Tuesday after it warned that Rachel Reeves’s Budget tax rises will lead to a “period of squeeze” for developers. The FTSE 100 group, whose shares boomed after Labour’s election victory in July, spooked investors after raising concerns over increasing costs which emerged during its negotiations with suppliers. Shares in the …

Spike in UK Borrowing Costs Wipes Out Reeves’ Fiscal Headroom
1 month, 2 weeks 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 …

Rachel Reeves plots pensions industry 'big bang' for investment as she scrambles to stop Budget squeezing growth... while poll finds four in 10 Brits believe high-tax package WILL hit their pockets
1 month, 2 weeks ago

Rachel Reeves plots pensions industry 'big bang' for investment as she scrambles to stop Budget squeezing growth... while poll finds four in 10 Brits believe high-tax package WILL hit their pockets

Daily Mail  

Rachel Reeves has signalled a pension industry 'big bang' to free up billions for Labour's infrastructure splurge. Rachel Reeves has signalled a pension industry 'big bang' to free up billions for Labour 's infrastructure splurge Your browser does not support iframes. 'In a couple of weeks' time I will deliver my first Mansion House speech setting out my ambitions for …

Reeves insists Labour will secure growth as she defends Budget choices
1 month, 2 weeks ago

Reeves insists Labour will secure growth as she defends Budget choices

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 has defended her …

What the Budget means for different ages: From renters and families to the retired
1 month, 3 weeks ago

What the Budget means for different ages: From renters and families to the retired

Daily Mail  

Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come. Smash-and-grab: Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come Young workers, renting and first-time buyers First-time buyers could face paying thousands more in stamp duty after Rachel Reeves lowered key …

Is the backlash against Reeves’s national insurance hike justified?
1 month, 3 weeks ago

Is the backlash against Reeves’s national insurance hike justified?

The Independent  

It should probably come as no surprise that what the chancellor, Rachel Reeves, once described as “a tax on jobs” has turned out to be. In particular, the “secondary threshold” – the level at which employers become liable to pay national insurance on each employee’s salary – will come down from £9,100 per year to £5,000 per year. The health …

Budget 2024: Rachel Reeves faces backlash from GPs, care homes and hospices over national insurance hike
1 month, 3 weeks ago

Budget 2024: Rachel Reeves faces backlash from GPs, care homes and hospices over national insurance hike

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. But while the NHS and the rest of the public …

Will the Budget cost you money - and did Rachel Reeves do a good job? This is Money podcast
1 month, 3 weeks 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 …

Budget tax hikes will be ‘devastating’ for charities, body warns
1 month, 3 weeks ago

Budget tax hikes will be ‘devastating’ for charities, body warns

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 Charities which are “already in …

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
1 month, 3 weeks 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 …

Budget market reaction ‘very different’ from Liz Truss turmoil, minister insists
1 month, 3 weeks ago

Budget market reaction ‘very different’ from Liz Truss turmoil, minister insists

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 The UK is in a …

Chancellor seeks to calm markets amid jitters after Budget borrowing spree
1 month, 3 weeks 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
1 month, 3 weeks 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 …

Chancellor Rachel Reeves finally admits her National Insurance rise will hit working people
1 month, 3 weeks ago

Chancellor Rachel Reeves finally admits her National Insurance rise will hit working people

Daily Mail  

RACHEL Reeves yesterday admitted her bombshell Budget will squeeze the wages of millions of working people. But economists warned that most of her £25 billion raid on employer National Insurance would be passed on to workers through lower wages. Chancellor Rachel Reeves told MPs on Wednesday that she had protected workers by freezing direct taxes on their pay Economists warned …

Britain faces years of ‘muted’ growth after Reeves’ Budget, warns Moody’s
1 month, 3 weeks 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 …

US employers rethink plans for UK after Reeves’s £25bn jobs tax
1 month, 3 weeks ago

US employers rethink plans for UK after Reeves’s £25bn jobs tax

The Telegraph  

American bosses are reconsidering their UK investment plans after Rachel Reeves launched a £25bn tax raid on employers, a transatlantic trade body has warned. Duncan Edwards, the chief executive of British American Business, said the Chancellor’s move to increase National Insurance costs had made the UK “less attractive”. “For the UK leaders of American-owned companies looking to get more investment …

Taxes 'are going to be high for 10 years'... and Rachel Reeves may have to come back for more, warns think-tank
1 month, 3 weeks 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 …

Labour's tax on farmers may prove to be the defining blunder of the Reeves' budget, warns ALEX BRUMMER
1 month, 3 weeks ago

Labour's tax on farmers may prove to be the defining blunder of the Reeves' budget, warns ALEX BRUMMER

Daily Mail  

This green and pleasant land is devoted to its farmers. It may not be the intention but the levy imposed by Rachel Reeves on farms valued at more than £1million may prove a fast track to releasing land for Labour’s housebuilding. Labour’s failure to understand rural Britain may prove to be a defining blunder of Reeves’ budget. The group’s focus …

Rachel Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’
1 month, 3 weeks 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
1 month, 3 weeks 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 …

Budget 2024: The chart that reveals the Budget’s real winners – and who will be hit hardest
1 month, 3 weeks 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
1 month, 3 weeks 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 …

Watch: Starmer and Reeves speak after Labour’s £40bn tax-raising Budget
1 month, 3 weeks ago

Watch: Starmer and Reeves speak after Labour’s £40bn tax-raising 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. She revealed new taxation measures that aim to raise £40bn …

UK Treasury chief admits business tax rise could lead to lower than anticipated wages
1 month, 3 weeks ago

UK Treasury chief admits business tax rise could lead to lower than anticipated wages

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 {{ …

Rachel Reeves gambles on £40bn tax rise in her first Budget
1 month, 3 weeks 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
1 month, 3 weeks 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
1 month, 3 weeks 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
1 month, 3 weeks 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 {{ …

Papers react to Labour’s Budget ‘gamble’
1 month, 3 weeks ago

Papers react to Labour’s Budget ‘gamble’

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. Ms Reeves said Labour’s first …

DAILY MAIL COMMENT: This was a painful budget - with worse to come
1 month, 3 weeks 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 …

Employers warn of crisis as Reeves increases NI contributions
1 month, 3 weeks ago

Employers warn of crisis as Reeves increases NI contributions

The Telegraph  

Corporate Britain has sounded a warning about hiring freezes and pay cuts after emerging as the biggest loser of a £40bn tax raid. Pubs, restaurants and cafes, which rely on part-time staff, could see their tax bills rise by a collective £1bn as a result of the changes, UKHospitality warned, as firms will have to start paying National Insurance Contributions …

Rachel Reeves Unveils Massive Tax Hikes in Historic Budget Speech
1 month, 3 weeks 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
1 month, 3 weeks 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.

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