Tag: UK budget
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A Make-or-Break Budget: Inside the Treasury Ahead of Labour’s Crucial Day
Introduction: The high-stakes moment Every budget is a test case in political leadership, but few moments feel as taut as the run-up to a party’s key budget day. In the corridors of the Treasury, a delicate balance exists between fiscal prudence and political signalling. For Labour, the upcoming budget represents not just a ledger of…
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Rachel Reeves to crack down on illegal working at car washes and nail bars
A decisive move to tackle illegal working Chancellor Rachel Reeves is set to announce a new, targeted enforcement push in the next Budget, focusing on illegal working in service-sector hotspots such as car washes, nail bars, and takeaways. The plan centers on creating a dedicated investigative team with a £1 million budget to identify and…
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Reeves to spend £6bn more on benefits in Budget plan
Chancellor Reeves Signals Budget Boost for Benefits Chancellor of the Exchequer Rachel Reeves is set to outline a Budget plan that includes a notable increase in benefits spending, with an additional £6 billion allocated to working-age support. The move, positioned as a response to cost-of-living pressures, signals the government’s prioritization of social security as inflation…
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What a Mansion Tax Could Mean for Thousands of UK Second Home Owners
What is the potential mansion tax for second homes? As the Budget approaches, questions are mounting about a proposed mansion tax on second homes in the United Kingdom. Early analyses suggest that thousands of owners could face higher bills as authorities weigh reforms to council tax and related levies. The central idea is straightforward: homes…
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Reeves Signals £6bn Rise in Benefits Spending in Budget
Overview: Reeves signals a modest uplift in benefits spending Chancellor Rachel Reeves is set to announce a £6 billion increase in benefits spending as part of the upcoming Budget, according to sources familiar with the plans. The move comes even as debate intensifies over the rising cost of providing welfare support and the need to…
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Reeves to Hit Savers with £12bn Stealth Tax Raid in Budget
Chancellor Reeves signals a stealth tax bite on savers The Financial Times reports, and later confirmation from Treasury officials appears, that Chancellor Rachel Reeves plans to generate around £12 billion in extra revenue by keeping the personal savings allowance frozen in the upcoming Budget. The move is being framed as a prudent step to balance…
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Budget 2025: Starmer and Reeves ditch plans to raise income tax
Overview: A sudden U-turn ahead of Budget 2025 The political landscape surrounding the upcoming Budget 2025 has shifted dramatically as Sir Keir Starmer and Rachel Reeves abandon their manifesto pledge to raise income tax. In what appears to be a rapid political recalibration, the Labour leadership has signaled that it will not pursue an increase…
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Investors Pull Cash from Stock Market Ahead of Budget
UK Investors with Cash on the Sidelines as Budget Looms British investors are increasingly shunning global stock market funds, pulling money out at a record pace as they brace for a new Budget from the Chancellor. Data showing sizeable outflows from equity funds since July points to growing caution as households anticipate possible tax policy…
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UK Business Leaders Urge Reeves to Embrace Unpopular Tax Moves in Budget
Overview: A Call for Bold Tax Decisions UK business chiefs say the time has come for magistral fiscal clarity, urging Chancellor Rachel Reeves to adopt a more audacious tax strategy in the upcoming Budget. While Labour has campaigned on a fiscally responsible platform, seasoned executives across the Confederation of British Industry (CBI) argue that the…
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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…