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Saturday's national newspaper front pages

Reeves raised taxes to the highest share of national income since the 1970s, balancing Labour MPs’ support and market stability amid voter uncertainty.

  • Rachel Reeves, Chancellor, presented a budget increasing taxes by £26b to fund schools, hospitals and infrastructure, which Labour MPs and financial markets received favorably.
  • With public finances deteriorated, Reeves sought to satisfy three audiences — her parliamentary Labour colleagues, financial markets and voters — shaping her fiscal calculation.
  • It also featured the levies on dividends and gambling, a so-called mansion tax, a freeze on income tax thresholds, and abolition of the two‑child limit, raising welfare by 10 billion.
  • Media scrutiny included national newspapers accusing Rachel Reeves of misleading the public and the Office for Budget Responsibility publishing budget details before her speech.
  • Longer term, taxes will reach their highest share of national income by decade's end, with many tax rises taking effect in 2028-29 and the Institute for Fiscal Studies warning living standards look 'truly dismal'.
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BBC News broke the news in United Kingdom on Saturday, November 29, 2025.
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