""I can say this, Mr Speaker, because the figures on the productivity review that's being undertaken, this is a judgment on their record in office. Those figures are now coming through, and they confirm that the Tories did even more damage to the economy than we previously thought. We will turn that around. We've already delivered the fastest growth in the G7 in the first half of this year. Five interest rate cuts in a row, trade deals with the US, EU and India.""
""retail sales are higher than expected, inflation is lower than expected, growth has been upgraded this year, and the UK stock market is at an all-time high". "The Budget is on November 26 and we will lay out our plans, but I can tell the House now that we will build a stronger economy, we will cut NHS waiting lists and deliver a better future for our country.""
The Prime Minister declined to rule out raising national insurance, income tax, or VAT in the upcoming Autumn Budget. Sir Keir Starmer said the government will lay out plans at the Budget on 26 November and attributed worse-than-expected productivity figures to Tory damage to the economy. Starmer refused to extend the freeze on personal tax allowances, which will bring more workers into income tax. Concerns emerged that Chancellor Rachel Reeve's November Budget may introduce large tax increases to plug a multi-billion shortfall. Kemi Badenoch pressed for guarantees on tax changes and personal allowance thresholds. Starmer cited stronger retail sales, lower inflation, upgraded growth, G7 growth claims, and trade deals while promising to tackle NHS waiting lists.
Read at London Business News | Londonlovesbusiness.com
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