Rachel Reeves: “This is a tax-raising Chancellor. The tax burden is the highest it’s been since the 1940s, by the end of the Parliament seven out of eight people will be paying more tax'
“However, he has not taken the opportunity to protect the poorest more fully simply by uprating their benefits more closely in line with actual inflation. His choice to increase National Insurance rates and reduce the basic rate of income tax looks indefensible from an economic point of view, though one can see the political attractions.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spring Statement: Will Rishi Sunak help where it really hurts?Don't roll the drums for big financial drama when the chancellor delivers his speech on Wednesday.
Read more »
Is Rishi Sunak a tax-cutter?The chancellor says he wants to cut taxes - but figures how taxes have risen under his watch.
Read more »
Chancellor Rishi Sunak to deliver Spring Statement amid price pressuresThe chancellor will give his economic update to the Commons as the cost of living crisis continues.
Read more »
Spring statement: Chancellor Rishi Sunak to unveil plans to build a 'stronger, more secure economy'On Wednesday, Mr Sunak will produce a fiscal statement at a pivotal time for the country when hard pressed families are facing enormous increases in their cost of living.
Read more »
Spring statement 2022: Pressure on Rishi Sunak as inflation hits 6.2%Britain’s inflation rate has risen to more than 6%, heaping on pressure on Sunak to help ease the burden for families and businesses struggling with rising prices
Read more »