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Evening Standard
Evening Standard
Politics
Nicholas Cecil

Budget 2024: Labour Chancellor Rachel Reeves big bang tax, borrow and spend gamble risks backfiring

Rachel Reeves Sir Keir Starmer Gordon Brown NHS National Insurance

Rachel Reeves’ first Budget looks bold, and risky.

The Chancellor will next Wednesday, October 30, unveil a string of tax rises, billions of pounds of cuts to some public spending, and tens of billions of investment in infrastructure projects funded by more borrowing after loosening her debt fiscal rule, which has sparked fears of higher mortgage rates.

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