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Explainer: How much pain could the next budget bring?
Local TV
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05/09/2024
Labour is claiming a multi-billion-pound hole in public finances.
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News
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00:00
Chancellor Rachel Reeves is poised to deliver the UK autumn budget on October 30th, marking
00:08
Labour's first comprehensive fiscal plan since coming to power. The budget is anticipated
00:15
to address the £40bn hole that's suggested in public finances, with a mix of tax hikes
00:22
and spending cuts likely on the agenda. Key policy announcements may include the freedom
00:29
to buy housing initiative designed to boost home ownership amongst renters, and potential
00:35
reforms to capital gains and inheritance taxes. Additionally, the budget is expected to focus
00:42
on increasing funding for the NHS, education and green energy projects. The Conservative
00:49
Party has criticised Labour's approach, warning that significant tax increases could stifle
00:55
economic growth, suggesting that the budget may not go far enough to support businesses
01:01
and families during the current cost-of-living crisis.
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