"Reeves said the UK economy "isn't broken", but admitted it was "not working well enough for working people"."
""Bills are high. Getting ahead feels tougher. You put more in, get less out. That has to change," she said."
The Budget will take place on 26 November, when the Chancellor will set taxation and spending plans to fund hospitals, schools, the military and the police. The Chancellor faces pressure to balance public finances, boost economic growth and maintain investor confidence as growth remains sluggish and inflation rises. Economists warn tax rises or spending cuts may be needed to meet borrowing rules. Labour pledged not to raise VAT, National Insurance or income tax on working people. Speculation surrounds targeted taxes such as windfall levies on banks, property taxes or council tax reform. Long-term borrowing costs are the highest since 1998, reducing a roughly £10bn fiscal buffer. The Chancellor has asked the OBR to start a 10-week forecast based on government policies.
Read at www.bbc.com
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