An IMF spokesperson expressed support for the UK budget, emphasizing the importance of sustainably raising revenue to reduce the deficit over the medium term.
Chancellor Rachel Reeves acknowledged that her decision to increase employers' national insurance may lead to lower pay rises but assured that household incomes would rise during the parliament.
Reeves noted the last parliament was 'the worst ever for living standards', contrasting it with the current forecast where households are expected to see income growth.
As the day progresses, various organizations are set to publish in-depth analyses of the budget, highlighting its significant impact on the UK's financial landscape.
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