Tag: Budget 2024
-
Labour Unite for Budget: Reeves Faces Critics Ahead of Budget Day
Budget Day Countdown: Labour Calls for Unity The political weather ahead of the eagerly anticipated Budget centring on Chancellor Rachel Reeves is marked by name recognition, strategic messaging, and a test of the Labour Party’s unity. With major newspapers running headlines about the party’s internal dynamics, Reeves has chosen a message aimed at solidarity, urging…
-
Reeves to Spend £6bn More on Benefits in Budget
Overview: Reeves confirms extra spending on benefits Chancellor Rachel Reeves is set to announce an increase in benefits spending in the upcoming Budget, with a total addition of about £6 billion. The plan would see working-age benefits rise by 3.8% from the next financial cycle, signaling a continuation of support for households facing cost-of-living pressures.…
-
Reeves Eyes £12bn Stealth Tax Raid on Savers in Budget
Overview: A Quiet Tax Shift Targeting Savers The upcoming Budget is shaping up to deliver a substantial hit to savers, with reports indicating Chancellor Rachel Reeves plans to raise about £12 billion by keeping the personal savings allowance frozen for another year. The move, described by insiders as a stealth tax raid, would deny savers…
-
What’s Behind Reeves’s Hokey Cokey on Income Tax Rises
Introduction: The Budget Conundrum In the run-up to the Budget, Labour’s Chancellor, Rachel Reeves, found herself caught between a manifesto commitment and the political realities of fiscal room. After weeks of speculation about whether she would push for income tax rises, Reeves signaled a reversal, opting not to press ahead with a policy many had…
-
PBO Challenges Liberal Accounting While Rallying for Budget Sustainability
Canada’s Budget Watchdog Raises Questions Ahead of a Crucial Vote The interim Parliamentary Budget Officer, Jason Jacques, has taken aim at the Liberal government’s accounting practices as MPs prepare to vote on the budget. In a move that underscores ongoing concerns about fiscal forecasting, Jacques suggests there is a less than 10 percent chance that…
-
British Investors Pull Cash from Stock Market Ahead of Budget
UK Investors Move Cash Ahead of the Budget British investors are digitizing a growing caution in 2024, pulling record amounts from global stock market funds as the Budget looms. The appetite for risk has waned as households brace for possible tax changes and policy shifts that could affect returns. Data from fund trackers show that…
-
Investors Flee Shares as Tax Fears and AI Bubble Loom over UK Markets
Market shake-up as investors pull funds amid tax rise uncertainty Investors pulled about £3.6 billion from UK shares as talk of tax rises and an anticipated AI bubble sparked caution ahead of the budget on November 26. The data, from Calastone, highlights a period of heightened risk aversion as traders weigh how Chancellor Rachel Reeves…
-
UK House Prices Hit Record High: October Growth Surges, Halifax Reports
Overview: Prices Reach a Fresh Peak UK house prices climbed by 0.6% between September and October, according to lender Halifax, marking the strongest monthly increase since January. The uptick comes despite lingering political uncertainty surrounding the Budget and broader economic headwinds. As affordability pressures and mortgage rates evolve, the October data suggests demand remains resilient…
-
Tax rises in Budget: Reeves signals necessary choices and public reaction
What the Budget Could Signal About Taxation When finance minister Rachel Reeves hints at “necessary choices” in an upcoming Budget, it tends to send ripples through households and businesses alike. With the Budget due on 26 November, the question on many lips is which taxes might rise—and how any changes would affect everyday finances. Historically,…
-
Tax Rises Ahead: Reeves Signals Budget Choices in November
What Reeves’ remarks could mean for the Budget In the lead-up to the Budget on 26 November, Labour leader and shadow chancellor Rachel Reeves has mounted a careful stance on tax increases. She has refused to rule out tax rises and says the government will make the necessary choices to fund vital public services. The…