Rachel Reeves Faces Criticism Over Budget's Economic Impact

The Chancellor's fiscal plan is drawing backlash from businesses, farmers, and economists over tax hikes and stagnant growth projections.

Businesses and economists have criticized the Budget's tax increases, particularly the rise in employer national insurance contributions, for stifling hiring and investment plans.
Economic data shows private sector activity has fallen to a 13-month low, with concerns that the UK economy may face contraction in the fourth quarter of 2024.
Farmers have protested changes to agricultural inheritance tax, with the National Farmers’ Union disputing government claims about the policy's limited impact on farms.
Retailers warn that tax hikes could lead to job losses, price increases, and store closures, while the pound has dropped to its lowest level against the dollar since May.
Labour MPs are divided, with some supporting the Budget's increased NHS spending but others questioning its lack of clear growth strategies.