Rachel Reeves planning to raise taxes and cut spending in October budget
Briefly

from www.theguardian.com4 weeks ago
Rachel Reeves' upcoming budget will focus on raising taxes, cutting spending, and tightening benefits, driven by significant concerns over the UK’s public finances despite recent economic growth.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/20/rachel-reeves-planning-to-raise-taxes-and-cut-spending-in-october-budget
Reeves is fully aware that borrowing figures have already exceeded previous forecasts by over 3 billion, indicating a severe public finance issue that cannot be ignored.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/20/rachel-reeves-planning-to-raise-taxes-and-cut-spending-in-october-budget
The Treasury has emphasized that further difficult choices are imminent, indicating that the first Labour budget since 2010 will involve substantial austerity measures alongside taxation changes.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/20/rachel-reeves-planning-to-raise-taxes-and-cut-spending-in-october-budget
Despite initial economic improvements, the Chancellor is poised to face a stark fiscal reality with a substantial black hole in public finances and a lack of positive economic data.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/20/rachel-reeves-planning-to-raise-taxes-and-cut-spending-in-october-budget
Read at www.theguardian.com
#uk-economy #tax-policy #public-spending #rachel-reeves #budget-2024
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