The Rest Is Money
98. Why Reeves Is Struggling To Find Taxes
Oct 2, 2024
Rachel Reeves, a prominent politician known for her budget proposals, discusses the implications of changing pensions tax relief. She reveals how such changes could trigger strikes among public sector workers. The conversation also highlights the potential downsides of raising capital gains tax rates and their unexpected effects on government revenue. Additionally, they delve into Blackstone's massive £10 billion investment in North East England, aimed at constructing Europe's largest AI data centre, and the economic opportunities and concerns that come with it.
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Quick takeaways
- Changes in pension tax relief proposed by Rachel Reeves could provoke public sector strikes, reflecting tension in labor relations.
- Blackstone's £10 billion investment in an AI data center promises economic revitalization for Northumberland despite environmental sustainability concerns.
Deep dives
Keir Starmer's EU Relations Reset
Keir Starmer is making efforts to reset relations between the UK and the European Union. His recent meetings with EU leaders aim to establish closer cooperation in areas such as defense and security, but do not signal any moves towards rejoining the EU or its single market. Concerns have been raised that institutional arrangements for sharing information could be unpopular among skeptics in the UK. Additionally, proposals allowing young people to live and work in both regions have been viewed favorably, although Starmer remains cautious due to migration concerns.
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