Cheaper pints, surprise wage boost & fuel duty freeze in Budget – but £40BILLION tax blitz will pay for it
The Tory leader also warned the new changes are a growth killer set to drag Britain’s economy to a crawl.His comments came as he responded to the Chancellor's address in what was his final appearance on the frontbenches.
He went on: "They don't like it, but this is the truth. They have fiddled the figures. They have raised tax to record levels. They have broken their promises, and it is the working people of this country that are going to pay the price now." Booze, cigs, fuel and tax, tax, tax. That was a monster budget from Rachel Reeves - and here it is at a glance:The OBR report is also warning that the increase in employer national insurance contributions will "reduce labour supply by 50,000 average hour equivalents".They have also forecasted a post-Budget rise in mortgage rates.
Drinkers will pay less for a pint of beer at the pub after the Chancellor announced a surprise cut to tax on some drinks.The Office for Budget Responsibility - the independent body that provides supplementary reports with the Budget - is holding a press conference.Inflation and interest rates will also rise, their report says.
He said: "Despite these record-breaking tax rises, despite fiddling the figures, despite letting borrowing soar, today, the OBR has forecast growth is going to be lower under this Government than it was forecast to be a the Conservatives.The Tory leader warns that "this is what happens when the Labour Party is led by people who have no experience of Business and Enterprise.
"The Chancellor also scrapped her predecessor's plan to get the civil service back to its pre pandemic numbers. She does not seem to think that the civil service can be reduced by a single person."In happy news, more than one million indebted families on Universal Credit will be £420 better off on average after changes to the maximum level of deductions in the Chancellor's Autumn Budget.
The Tory leader says Labour did not inherit a £22bn black hole - and instead had inflation at two per cent, low unemployment and mortgage rates being cut. “We need action not gimmicks, and we need a government to stop discriminating against the iconic British spirits industry. This decision will increase those losses in future and will cost jobs, reduce investment and damage growth."
"Well today, his actions speak for themselves with a budget that contains broken promise after broken promise. And £3.1billion will be added to the health service's capital budget, while £1bn goes to refurbishing dilapidated facilities. Rachel Reeves confirms the widely trailed fiddle to her measurement of public debt rules - is switching to Public Net Financial Liabilities which includes the benefits of future investments and counts student loans as assets rather than debt.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rachel Reeves admits Budget will be 'painful' amid fears 'tax bomb' could leave Brits facing biggest...Rachel Reeves argued problems cannot be 'magicked away' as she prepares to mount an eye-watering raid next Wednesday,
Read more »
Rachel Reeves admits Budget will be 'painful' amid fears 'tax bomb' could leave Brits facing biggest...Rachel Reeves argued problems cannot be 'magicked away' as she prepares to mount an eye-watering raid next Wednesday,
Read more »
How Brits Are 'Bracing Themselves' For The Budget As Rachel Reeves Looks To Raise £40 BillionKevin Schofield is Politics Editor of HuffPost UK.
Read more »
Labour's Sweden-style tax revolution: How Rachel Reeves' huge £35bn Budget raid could push Brits'...Rachel Reeves is expected to bring in a massive £35billion a year extra for the Treasury - one of the biggest ever raids at a fiscal event.
Read more »
Labour's Sweden-style tax revolution: How Rachel Reeves' huge £35bn Budget raid could push Brits'...In an interview on BBC's Newsnight, former Shadow Health Secretary Jonathan Ashworth says that the Labour government has been 'honest with the British public' about the Budget.
Read more »
Labour's Sweden-style tax revolution: How Rachel Reeves' huge £35bn Budget raid could push Brits'...In an interview on BBC's Newsnight, former Shadow Health Secretary Jonathan Ashworth says that the Labour government has been 'honest with the British public' about the Budget.
Read more »