FT News Briefing UK Labour’s Budget borrows big, taxes more
Oct 31, 2024
Lucy Fisher, the FT's Whitehall editor, dives into the UK Labour Party's bold budget proposals, which include a staggering £40 billion tax increase and £28 billion in borrowing aimed at boosting growth and improving living standards. She discusses the potential political motivations behind these fiscal strategies, particularly in light of the current economic challenges. The conversation also touches on the recent changes to voting laws in Arizona, highlighting the impact on Indigenous communities and the ongoing national debate around election integrity.
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Microsoft's AI Boom
- Microsoft's revenue increased by 16% due to high cloud computing demand driven by the AI boom.
- However, growth is slowing, and AI-related spending will continue to rise.
UK Labour's Budget
- The UK Labour Party presented a budget with significant tax increases and extra borrowing.
- This aims to improve living standards and drive economic growth through investments, primarily in public services like the NHS.
Arizona's Citizenship Law
- Arizona's new voter registration law demands proof of citizenship, potentially disenfranchising certain groups.
- Critics argue this adds complexity to the system and disproportionately affects minority voters.