Reeves Lifts UK Taxes, Borrows to Invest in Debut Budget
- Chancellor’s statement first by Labour government since 2010
- Reeves frames tax rises as necessary to repair public finances
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Chancellor of the Exchequer Rachel Reeves unveiled £40 billion ($51.9 billion) of tax rises and ramped up borrowing, a dramatic move to meet Labour’s pledge to “rebuild” the UK that still risks disappointing voters.
Read more: Here Are the Key UK Budget Measures Announced by Rachel Reeves