First Labour Budget Announced…

Rachel Reeves has announced that she will delivered her first budget as Chancellor on Wednesday 30th October.

She pulled no punches in the Commons debate when she accused her predecessor of covering up a £22bn overspend in the government finances. To plug the gap, she told the Commons, money needed to be found elsewhere. That would include cancellation of some rail and road projects, including the tunnel under Stonehenge, and restricting winter fuel payments to those on pension credits or other means-tested benefits

Former Chancellor Jeremy Hunt stated this was simply an attempt to pave the way for further rate increases.

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