The Financial Times reported that Chancellor Reeves aims to fix public services and broken finances, with a significant tax burden to be shouldered by businesses and the wealthy.
The Daily Telegraph described a ‘Nightmare on Downing Street’, portraying the $40 billion tax rise as detrimental to pay and living standards, with serious repercussions for the economy.
The Times noted a record tax burden alongside a predicted surge in public borrowing, with economists fearing stalled economic growth as a result of the new budget policies.
The Daily Mail highlighted the extensive impact of Reeves' budget as a '40bn tax bombshell', emphasizing its negative effects on businesses, pensions, and overall wage stagnation.
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