Tax driver: Labour’s budget
The Intelligence from The Economist
Labour's Tax-Raising Budget Explained
This chapter analyzes Labour's newly announced budget, notable for being the highest tax-raising budget in modern British history. It explores the party's reliance on significant tax increases to fund public services while facing criticism for a lack of reform in the tax system. The discussion also addresses the implications of rising taxes, a potential public finance deficit, and a shift towards a more European-style approach to taxation and spending.
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