All articles tagged with #uk budget
UK Chancellor Rachel Reeves faces a smaller-than-expected fiscal gap due to strong pay growth, with recommendations from the Resolution Foundation to increase fiscal buffers, implement tax reforms, and address inflation to stabilize public finances ahead of the upcoming budget.
Supermarket leaders in the UK warn that potential tax hikes could lead to higher food prices, amid ongoing inflation driven by global factors and domestic tax policies, with industry lobbying for tax relief to help keep prices affordable ahead of the upcoming Budget.
Rachel Reeves indicates that tax increases are likely ahead of the UK Budget to improve public finances, amid discussions of potential spending cuts and economic challenges, including Brexit impacts and rising inflation.
Keir Starmer's Labour conference speech focused on contrasting Labour's vision with Reform UK, emphasizing patriotism, addressing immigration and education policies, and preparing for tough budget decisions, while positioning Labour as the party of national renewal and service.
BBC Verify reports on potential UK tax increases in autumn to meet borrowing rules, verifies a Gaza aid truck incident resulting in casualties, and confirms a Russian attack in Zaporizhzhia causing casualties, amidst ongoing conflicts and economic challenges.
Chancellor Rachel Reeves assured businesses there will be no further tax increases or borrowing after announcing significant tax hikes in her recent Budget, which aims to raise nearly £70bn for public spending. Despite backlash from business leaders, who argue the measures could harm investment and competitiveness, Reeves emphasized the need for stability and fiscal responsibility. The Confederation of British Industry (CBI) and major companies have expressed concerns over the impact on costs and economic growth, urging the government to consider reforms to support businesses.
UK Finance Minister Jeremy Hunt announced a mix of childcare and pension reforms to boost the country's stagnating economy, along with corporate tax breaks to boost weak business investment. Hunt extended help for households hit hard by soaring energy bills and froze a tax on vehicle fuel. He also expanded free childcare to children under two in England as a way to get more parents of young children into work. The Office for Budget Responsibility (OBR) said it was hard to judge the impact of Hunt's attempts to get more workers into the jobs market and it warned that the share of people in work or looking for it was set to hit a 23-year low next year before rising.