Labour Government's First Budget Boosts Taxes and Spending to Rebuild UK

Reported 9 months ago

In its inaugural budget, the Labour government in the UK, led by Chancellor Rachel Reeves, announced a £40 billion tax hike and increased spending to address financial gaps and bolster public services. The budget includes a significant allocation for the National Health Service, adjustments to debt rules, and increases in various taxes, particularly affecting employers. While some opposition figures criticized this as a breach of campaign promises, Reeves defended the measures as essential for restoring economic stability after years of Conservative governance.

Source: YAHOO

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