Rachel Reeves' Budget to Address Austerity and Public Service Funding

Chancellor Reeves plans to unveil her first Budget, aiming to end austerity and tackle a £22 billion financial shortfall inherited from the previous government.

• Rachel Reeves' Budget is expected to include tax reforms and spending cuts to address a reported £22 billion deficit.
• Labour has pledged not to raise taxes on working people, ruling out increases in income tax, national insurance, and VAT.
• Potential tax changes include adjustments to capital gains, inheritance tax, and pension tax relief to raise additional revenue.
• The Budget aims to end austerity by increasing funding for vital public services, with specific allocations for Scotland being a point of contention.
• A new £3 bus fare cap will be introduced, continuing support for public transport while addressing financial sustainability concerns.

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