Economist Podcasts Tax driver: Labour’s budget
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Oct 31, 2024 
Archie Hall, Britain economics correspondent for The Economist, dives into Labour's budget, revealing the biggest tax increases in decades and the implications for public services. Stevie Hertz discusses how Hurricane Helene might shape the North Carolina elections, emphasizing voter accessibility challenges. Meanwhile, Rachel Lloyd, Deputy culture editor, highlights the recent pickle craze, sharing fun culinary experiments and unconventional dishes. Together, they explore economics, politics, and tasty trends in a lively discussion!
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Labour's Tax-Heavy Budget
- The UK's Labour government's first budget saw the biggest tax rises in decades, aiming for increased spending and investment.
- This budget signals a potential shift towards a European-style approach to taxation and public spending.
Funding Public Services
- Labour prioritizes improving public services, even if it means higher taxes, believing it's key to winning the next election.
- They reversed previous national insurance cuts, framing it as a tax on employers, not employees.
Shifting Towards European Model
- This budget signifies Labour's comfort with higher taxes and spending, similar to European models.
- This contrasts with previous attempts to balance lower American-style taxation with European-level public services.