UK Labour Budget Challenges

This is a UK news story, published by MSN, that relates primarily to Starmer news.

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poor public finances

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UK budget: Cuts and tax hikes loom as Labour looks for money to invest

Summary

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81% Informative

UK 's center-left Labour Party will present its first budget in more than 14 years to the British people on October 30 .

The new government has to balance several pledges made during the campaign.

It has vowed not to raise taxes on "working people" and it has also promised to ramp up public investment and borrowing.

Up to 35 billion pounds is expected in tax increases when the budget is announced.

For Starmer and his government, the hope is that any negative attention their tax hikes and spending cuts receive will be offset by optimism around increases in spending on public services.

Allenby: "I'm not sure the concept of 'pain' necessarily applies if one is thinking beyond just fiscal policy".

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informal

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English

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