
Reeves tells business it must bear brunt of £40bn in tax increases Chancellor raises spending by £70bn a year over next five years Huge injection of funds into NHS and cash boost for schools
Rachel Reeves used her budget debut yesterday to announce a massive package of tax, spending and borrowing increases as she gambled on voters rewarding the government for patching up Britain's crumbling public services.
Insisting that she was delivering on the choices the public made in July's general election, the chancellor told businesses and the better off that they must bear the brunt of £40bn of tax increases needed for an emergency NHS cash injection and to plug the hole in the public finances inherited from the Conservatives.
The chancellor raised £25bn by increasing employer national insurance contributions and hit those on higher incomes through increases in capital gains and inheritance tax, and changes to the rules covering wealthy foreign individuals living in Britain.
Reeves said she was making good on her pledge not to hit the pockets of working people, refusing to raise fuel duty for motorists and knocking a penny off the price of a pint of beer. Despite speculation, she also decided against extending the freeze on tax allowances and thresholds.
Addressing a meeting of Labour MPs after her Commons speech, she said: "At this budget, the Labour government made our choices. They're not easy choices, but they are the responsi ble choices in the national interest, and we now need to take the fight to the Tories."
هذه القصة مأخوذة من طبعة October 31, 2024 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 31, 2024 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول

PM: Putin must not 'play games' over ceasefire
Keir Starmer has warned that Vladimir Putin cannot be allowed to \"play games\" with the possibility of a ceasefire in Ukraine, as he prepares to present proposals for a peace deal to a coalition of about 25 world leaders.

Little lens Spectacles are scaling down for face appeal
Jurassic World Rebirth may be the most anticipated film of the summer, but it's not the dinosaurs that are piquing our attention.

Chancellor urged to bend fiscal rules instead of cutting welfare
Leading economists are urging Rachel Reeves to bend her fiscal rules or raise taxes instead of cutting welfare when she responds to growing spending pressures in her spring statement later this month.

Duterte appears before Hague court accused of crimes against humanity over 'war on drugs'
Rodrigo Duterte yesterday became the first Asian former leader to appear before the international criminal court at The Hague.

But is it any good? How authors feel about new artificial 'creative writing'
How authors feel about new artificial 'creative writing'

Tate Case: Misogynist Influencer Irate Over Reception in Florida
It was a welcome to Florida that Andrew Tate was not expecting, far less the warm embrace he believed he was entitled to.

Chips, seal milk and moles - the weird diet of gulls revealed
Gulls are renowned for snatching chips from tourists' hands, but a new scientific project has revealed the birds also like to tuck into moles and quench their thirst with seal milk.

Coffee drinkers urged to try supermarket own brands as prices soar
It's a wake-up call for instant coffee drinkers - the price of some of the UK's best-known brands has soared by up to 40% in a year.

Beating a retreat Mixed emotions as Ukrainians give up territorial gains
Under constant attack from drones attached to fibre optic cables, the soldiers scrambled in groups of two or three along hidden tracks or through fields, often walking miles on foot to get back into Ukrainian territory.

Kittens are expensive, but grabbing baby wildlife could cost an arm and leg
To the people who parked their consciences and voted for Donald Trump because, they thought, he'd slash regulation, cut corporate taxes and eviscerate the federal government to send their stock holdings soaring, I'd like to ask: how's that working out for you?