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Snapshot 2:Wed, Oct 30, 2024 6:20:41 PM GMT last edited by TylerJ

UK: Chancellor Rachel Reeves Announces $52B in Tax Rises Within Labour Budget

UK: Chancellor Rachel Reeves Announces $52B in Tax Rises Within Labour Budget

Above: Britain's Chancellor of the Exchequer Rachel Reeves holds the red Budget box outside 11 Downing Street ahead of the announcement of the Autumn Budget and Spending Review in the House of Commons in London, United Kingdom on October 30, 2024. Image copyright: Wiktor Szymanowicz/Future Publishing via Getty Images

The Spin

Albeit unpopular for the wealthy who will have to fork the bills, Reeves's budget was a strong and fair approach to finally putting the working people of Britain first. Having left the state of the UK's finances in disrepair after 14 years of self-centred short-termism, the Conservative Party have little right to complain about the painful yet necessary decisions made by the new Government.

Labour's socialist budget exposes Reeves and Starmer for their continued misleading of the British public. Having promised a changed party during the general election, Labour have returned to their high-spending, high-borrowing, high-taxation dogma that history has shown to fail time and time again. This anti-business and anti-growth approach will not succeed.

Metaculus Prediction

There is a 70% chance that the UK will have a Labour Prime Minister on Jan. 1, 2030, according to the Metaculus prediction community.


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