UK Budget: Chancellor Reeves Announces £40B in Tax Rises
UK Budget: Chancellor Reeves Announces $52B£40B in Tax Rises
The Facts
UK Chancellor Rachel Reeves has announced the Labour Party's first budget since 2010, including £40B ($52B) in tax rises and £22.6B ($29.5B) in extra day-to-day spending for the National Health Service (NHS).
Speaking in the House of Commons, Reeves — the UK's first female Chancellor of the Exchequer — stated the "only way" to achieve economic growth was "invest, invest, invest," and claimed she was "restoring stability" to public finances and "rebuilding" public services.
The Spin
Labour's socialist budget exposes Reeves and Keir Starmer for their continued misleading of the British public. Having promised a changed party during the general election, Labour has returned to its 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.
Albeit unpopular for the wealthy who will have to fork the bills, Reeves's budget is 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-centered short-termism, the Conservative Party has little right to complain about the painful yet necessary decisions made by the new government.
