Rachel Reeves' Budget Sparks Mixed Reactions and Market Concerns
Reeves' first budget as Chancellor aims to boost growth through increased spending and investment but faces skepticism from markets and political opponents.
- Rachel Reeves' budget includes a significant £40 billion tax increase, targeting capital gains and employer national insurance contributions.
- The budget plans for an additional £100 billion in capital spending over five years to stimulate economic growth and infrastructure development.
- Markets reacted negatively to the budget, with concerns over increased borrowing and the potential impact on inflation and interest rates.
- Critics argue the budget does not adequately address long-term economic challenges or sufficiently shift wealth distribution towards workers.
- Labour MPs express cautious optimism but acknowledge potential backlash from voters over tax hikes and perceived broken promises.
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