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The Story
The £40 billion gamble
Oct 31, 2024
David Smith, the Economics Editor of The Sunday Times, lends his expertise to dissect the historic Labour budget from Chancellor Rachel Reeves. He dives into the controversial £40 billion tax increase, questioning if it will lay solid foundations or burden working-class families. The discussion highlights the impact of national insurance hikes on small businesses and employment, and whether the budget can genuinely stimulate economic growth or just uphold the status quo amidst fiscal pressures.
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Quick takeaways
- The Labour Party's new budget introduces a £40 billion tax hike aimed at addressing public financial deficits, stirring debate on its impact on the economy.
- Concerns about the effectiveness of increased public investment in driving sustainable economic growth highlight the complexities of balancing taxation and fostering a favorable business climate.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode