U.K. Finance Minister Rachel Reeves pledged that her upcoming budget will focus on rebuilding the country and avoid austerity measures. Her announcement came as the Labour party kicked off its annual conference, their first in power for 15 years. Despite a reported £22 billion ($29 billion) 'black hole' in public finances, Reeves ruled out increases to income tax, National Insurance, VAT, and corporation tax.
The ruling Labour government has faced criticism for generating an atmosphere of doom over the state of the public finances .
Liverpool, ENGLAND — U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, saying her budget proposals will look to rebuild the country."It will be a budget with real ambition ... a budget to deliver the change we promised. A budget to rebuild Britain," she told a crowd of Labour party delegates Monday."There will be no return to austerity.
The ruling Labour government has faced criticism for generating an atmosphere of doom over the state of the public finances, with Prime Minister Keir Starmer warning ofReeves has suggested that taxes are likely to rise at her upcoming Oct. 30 Autumn budget after discovering a £22 billion "black hole" in the public finances.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly. Gideon Skinner, Ipsos' senior director of U.K. politics, said the findings were an indication that the government's"honeymoon period" was over.
Budget Labour Party Rachel Reeves Austerity Public Finances
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sonic The Hedgehog 3 Is Already Utilizing Keanu Reeves' Shadow PerfectlyCollage of Keanu Reeves from John Wick and Shadow (Reeves) from Sonic the Hedgehog 3
Read more »
UK Finance Minister Reeves vows no austerity despite tough budgetFollowing Labour's election victory in July, Rachel Reeves suggested taxes were likely to rise in her first budget on Oct. 30.
Read more »
Britain's finance minister calls for spending discipline but no return to austerityU.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, saying her budget proposals will look to rebuild the country.
Read more »
Inside the formula Jordi Fernandez is employing to guide the Nets through their rebuildTalk to Nets players and there are signs of how Jordi Fernandez wants them to play this upcoming season.
Read more »
Did the Brooklyn Nets Wait too Long to Rebuild?Just how overdue was the rebuild in Brooklyn?
Read more »
10 Best Movies That Redefine Their GenreA custom image of Keanu Reeves&39; Neo from The Matrix surrounded by the Matrix code
Read more »