Budget 2024: Employers' national insurance rise is bigger than predicted as chancellor seeks to raise £40bn in taxes
- Taxes will rise by £40 billion to support public services, according to British Treasury chief Rachel Reeves.
- A 1.2 percentage point rise in national insurance contributions for employers is the largest tax increase, totaling £25 billion.
- Reeves stated that higher taxes are needed to 'fix the foundations' of the economy, impacted by 14 years of Conservative government.
47 Articles
47 Articles
UK Treasury chief unveils budget with $50 billion in tax hikes
LONDON — British Treasury chief Rachel Reeves told lawmakers Wednesday that taxes will rise by 40 billion pounds ($52 billion) in order to plug a hole in the public finances and investment projects to boost growth. In the Labour Party’s first budget since returning to power earlier this year for the first time in 14
Labour is planning a lot of investments, after years of austerity.
Collingwood Today
UK Treasury chief unveils budget with $52 billion in tax hikes, promising greater investment
LONDON (AP) — British Treasury chief Rachel Reeves told lawmakers Wednesday that taxes will rise by 40 billion pounds ($52 billion) in order to plug a hole in the public finances and provide new funding for the U.K.
Timmins Today
UK Treasury chief unveils budget with $50 billion in tax hikes, promising greater investment
LONDON (AP) — British Treasury chief Rachel Reeves told lawmakers Wednesday that taxes will rise by 40 billion pounds ($52 billion) in order to plug a hole in the public finances and provide new funding for the U.K.
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