UK budget: Taxes raised by $52 billion, most in 30 years
Thursday, 31 October 2024 ()
UK Chancellor Rachel Reeves announced a 40 billion pound tax hike, the largest in 30 years, to address a fiscal shortfall left by the previous government. Measures include increasing the national insurance payroll tax and freezing fuel duty. Borrowing will be ramped up to invest in public services.
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