UK Budget 2024: Labour's Tax Plans and Public Spending Priorities Unveiled
Chancellor Rachel Reeves prepares to announce tax increases and infrastructure investments amid NHS funding concerns and public sector pay demands.
- Chancellor Rachel Reeves is set to deliver Labour's first Budget in 14 years, focusing on increased taxes for wealthier individuals and businesses to address a £40bn fiscal gap.
- The Budget is expected to prioritize NHS funding with a pledge for two million extra appointments, although concerns remain about the system's ability to handle winter pressures.
- Labour plans to raise employers' national insurance contributions and capital gains tax, sparking debate over the impact on 'working people' and business owners.
- Public sector unions are demanding significant pay increases, challenging the Chancellor to balance wage growth with fiscal constraints.
- Reeves aims to invest £50bn in infrastructure to stimulate economic growth, while maintaining a commitment to avoid a return to austerity measures.
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