Rachel Reeves unveiled a Budget proposing a 40bn tax increase, emphasizing investment in public services to stabilize the UK’s financial situation amid rising costs.
Critics including Paul Johnson labeled Ms. Reeves’ plans a 'huge gamble', questioning the feasibility of her ambitious tax hikes and investment strategies as fundamental challenges loom.
With major increases in national insurance contributions, stamp duty on second homes, and capital gains tax, Reeves aims to balance the books while promising significant NHS funding.
The Budget also included reforms to inheritance tax, but the opposition warns that the proposed changes may disproportionately impact those already facing financial difficulty.
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