[ad_1]
Your assist helps us to inform the story
This election continues to be a useless warmth, in accordance with most polls. In a struggle with such wafer-thin margins, we’d like reporters on the bottom speaking to the individuals Trump and Harris are courting. Your assist permits us to maintain sending journalists to the story.
The Independent is trusted by 27 million Americans from throughout the whole political spectrum each month. Unlike many different high quality information retailers, we select to not lock you out of our reporting and evaluation with paywalls. But high quality journalism should nonetheless be paid for.
Help us maintain carry these essential tales to gentle. Your assist makes all of the distinction.
Watch as Sir Keir Starmer warned that Britain faces “unprecedented challenges” in a speech on Monday, 28 October, ahead of Labour’s first Budget for 14 years.
The prime minister’s speech within the West Midlands — a area wherein Labour swept away the Tories within the basic election — got here amid widespread hypothesis that Rachel Reeves is set to boost taxes by between £25 billion to £40 billion.
Sir Keir stated that the nation faces unprecedented challenges after the final authorities coated up the state of the general public funds and crumbling public companies:
“We have to be realistic about where we are as a country. This is not 1997, when the economy was decent but public services were on their knees. And it’s not 2010, where public services were strong, but the public finances were weak. These are unprecedented circumstances.
“And that’s before we even get to the long-term challenges ignored for fourteen years. An economy riddled with weakness on productivity and investment. A state that needs urgent modernisation to face down the challenge of a volatile world.”
The chancellor is now expected to increase employer contributions to national insurance by 2 per cent despite promising not to increase national insurance in the Budget.
There are also expected to be hikes in inheritance tax and capital gains. Ms Reeves has pledged not to increase “taxes on working people” together with earnings tax, worker contributions to nationwide insurance coverage or VAT.
[ad_2]
Source hyperlink