Financial MarketsRachel ReevesUpdated a day ago

UK Chancellor Rachel Reeves Unveils £26 Billion Tax-Raising Budget Amid Economic Challenges

Chancellor Rachel Reeves has announced a £26 billion tax increase in the UK budget, aimed at addressing the cost of living crisis and stabilizing the economy. The budget raises the tax take to an all-time high of 38% of GDP by 2031, while introducing measures like a mansion tax and removing the two-child benefit cap. However, the announcement was marred by chaos due to early leaks, leaving markets unsettled and raising concerns about the impact on ordinary citizens.

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Financial MarketsRachel Reeves

Updated a day ago

UK Chancellor Rachel Reeves Unveils £26 Billion Tax-Raising Budget Amid Economic Challenges

France 24a day ago

More taxes, higher spending: A closer look at Britain's new budget

NeutralFinancial Markets

UK Finance Minister Rachel Reeves has unveiled a new budget that raises taxes for ordinary workers while increasing government spending on social welfare programs. The plan aims to elevate the government's tax take to a post-war high of 38% of GDP by 2031, as reported by the Office for Budget Responsibility (OBR).

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via France 24

The Guardiana day ago

Rachel Reeves targets UK’s wealthiest in £26bn tax-raising budget

NegativeFinancial Markets

Chancellor Rachel Reeves has unveiled a £26 billion tax-raising budget aimed at the wealthiest households in the UK, which includes the scrapping of the two-child benefit cap and cuts to energy bills funded by a mansion tax. This budget was announced amid a chaotic day marked by early leaks from the Office for Budget Responsibility (OBR).

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via The Guardian

Financial Timesa day ago

Rachel Reeves’ Budget raises UK tax take to all-time high

NegativeFinancial Markets

Chancellor Rachel Reeves has announced a budget that raises the UK's tax take to an all-time high of 38% of GDP by the end of the parliament, reflecting a £26 billion tax increase aimed at stabilizing the economy amidst ongoing financial challenges.

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via Financial Times

The New York Timesa day ago

Britain Raises Taxes by More Than $30 Billion in Push for ‘Stable Economy’

NegativeFinancial Markets

Chancellor Rachel Reeves announced a tax increase exceeding $30 billion in an effort to stabilize the UK economy, citing forecasts of slower growth and the necessity to manage national debt. This announcement was made during the government's annual budget presentation in Parliament.

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via The New York Times

The Guardiana day ago

Reeves’s tax-raising budget is crash-landing on an economy that is struggling for growth

NeutralFinancial Markets

Chancellor Rachel Reeves has unveiled a £26 billion tax-raising budget aimed at addressing the UK's cost of living crisis, which includes measures such as a mansion tax and the removal of the two-child limit on benefits. This budget is seen as a crucial moment for the Labour government as it attempts to stabilize an economy struggling for growth.

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via The Guardian

Bloomberg2 days ago

Reeves Takeaways: Tax Hikes Calm Markets After OBR Chaos

NegativeFinancial Markets

Chancellor of the Exchequer Rachel Reeves announced a £26 billion tax increase in a budget presentation intended to convey stability, but the release of key measures ahead of her speech caused market turmoil. The Office for Budget Responsibility mistakenly published the details online an hour before the announcement, prompting an apology and an investigation into the incident.

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via Bloomberg

Bloomberg2 days ago

UK Budget: Key Moments From Reeves’ Speech

NeutralFinancial Markets

UK Chancellor of the Exchequer Rachel Reeves delivered her budget speech in the House of Commons, highlighting key aspects such as the Office for Budget Responsibility's premature analysis release and plans for a higher tax on expensive properties, while confirming no increases to income tax, VAT, or National Insurance rates.

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via Bloomberg

Sky News2 days ago

Reeves says she 'recognises' she's asking 'ordinary people to pay more' in tax-raising budget

NegativeFinancial Markets

Chancellor Rachel Reeves has announced a budget that includes £26 billion in tax increases, recognizing that this will require ordinary people to pay more. The budget aims to address the UK's ongoing cost of living crisis and extends the freeze on personal income thresholds.

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via Sky News

Bloomberg2 days ago

Reeves Raises UK Taxes by £26 Billion in Day of Budget Chaos

NegativeFinancial Markets

Chancellor of the Exchequer Rachel Reeves announced a staggering £26 billion tax increase in a budget presentation that was intended to signal economic stability. However, the announcement was marred by chaos as key measures were inadvertently released ahead of schedule, leaving investors unsettled.

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via Bloomberg

Sky News2 days ago

Main budget announcements at a glance

NeutralFinancial Markets

Chancellor Rachel Reeves has unveiled the UK Budget for 2025, which includes significant reforms aimed at addressing the ongoing cost of living crisis. Key measures include a £26 billion tax increase, the introduction of a mansion tax, and the removal of the two-child benefit cap, reflecting the government's response to economic pressures.

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via Sky News