This will be a big budget.
Huge tax increases, huge borrowings, huge expenditures.
And it has a big political impact. Because it will determine the political landscape for years to come.
Prime Minister Rachel Reeves has promised to “invest, invest, invest” and will tell the House of Commons: “My faith in Britain burns brighter than ever.
“There’s more money in people’s pockets, and the NHS is there when you need it most.
“The economy grows, creating wealth and opportunity for everyone.”
Please take note of the bright atmosphere after the dark statements made by ministers recently.
The government also emphasizes that it is “protecting working people’s payslips.” National insurance paid by employerThe number of employees, not employees, has increased, making this one of the largest lines in recent weeks.
Labor will use this budget to try to open a political dividing line with the Conservatives – much like what Gordon Brown tried to do a decade and a half ago – with the Conservatives hoping to use the so-called ”, that is, spending, in contrast to what they label as “decline” presented by the Conservatives.
Conservative leader Rishi Sunak, on his last big day in office before choosing his successor on Saturday, will understandably later criticize the Prime Minister.
“She calls National Insurance a ‘jobs tax’ that ‘takes money out of people’s pockets’,” he says.
“And worst of all, the problem with national insurance is that it is purely a tax on people who go to work and those who employ them,” she said.
“Rather than protecting workers, she will literally raise the only major tax that specifically hits workers.”
The Liberal Democrats are expected to focus on social care and the availability of GP and dentist appointments in their response to the Budget.
It’s been 14 years and seven months since the Labor Prime Minister waved the Budget Red Box on the steps of 11 Downing Street.
Wednesday, March 24, 2010 Alistair Darling’s third budgetdelivered on the eve of an election campaign that would see Labor go on to lose.
By the way, what was the most expensive measure that day? A promise to spend £600m to increase winter fuel allowance for another year.
Labour’s ideas continued through the Coalition and Conservative governments, but eventually The majority of pensioners have been canceled When Labor won again in July.
For 800 years, men have run the country’s finances. Since the appointment of Sir Richard Sackville in 1559, there have been 110 Prime Ministers. A continuous line of men spanning centuries They include Henry Bilson Legge, who was Prime Minister three times in the 18th century, and William Gladstone, who took up the challenge four times in the 19th century.
That is, until Rachel Reeves was appointed.
The Conservatives could have ruled through the first three female prime ministers, given Labour’s current zero track record, but the first Budget by a female Chancellor of the Exchequer is a genuine historical moment.
So what can you expect?
Well, the big things have been talked about in advance through nods and glances, public conferences, and unauthorized leaks.
Tax increases are expected, including for employers. National insurance and inheritance tax.
Government policy has changed Self-imposed debt rulesTherefore, you can borrow more money.
There is a rise in minimum wage.
have money rebuild the school In England.
And the plan is New equipment for the NHSscanners and radiation therapy equipment.
Expect Rachel Reeves to talk a lot about what she calls “choices.”
Her team views this as a “once in a generation” budget, and it is argued that its size matches the scale of the challenges they face.
They think this is the national code, and it’s in shambles, and it will be expensive to fix it.
How much that is, and whether billions of more taxpayers’ money will be the solution, is an open question.
