Rachel Reeves will today become the first Labour Chancellor to deliver a UK Budget statement since Alistair Darling in 2010.
Rachel Reeves is expected to hike National Insurance contributions for employers and raise inheritance taxes for the wealthy in order to help fund a massive cash boost for the NHS.
The UK Government will raise the National Living Wage by 6.7 per cent - worth £1,400 a year for an eligible full-time worker – while the National Minimum Wage for 18 to 20-year-olds will also rise from £8.60 to £10.00 an hour – the largest increase in the rate on record. The Chancellor is also widely expected to raise national insurance contributions for employers, a move blasted by firms.
Scotland’s largest trade union body, the STUC, has also demanded an "end to austerity" as they implored the Chancellor to invest in public services and the economy ahead of the budget. “It is welcome that my calls for the Chancellor to amend her fiscal rules have been heard, with indications last week that there will be scope for greater investment.
The Scottish Government has been candid about its dire financial straits in recent months, with Finance Secretary Shona Robison forced to make more than £500 million of in-year cuts.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2024: Eight things to look out for in Rachel Reeves' autumn statementThe Chancellor will use the financial statement to set out the Labour Government's tax and spending plans.
Read more »
Budget 2024: John Swinney urges Rachel Reeves to scrap two child benefit capEXCLUSIVE: The First Minister said Scotland's children 'cannot wait' for the Tory benefit limit to be axed.
Read more »
Inheritance taxes 'in the crosshairs' at Budget as Rachel Reeves 'abandons mad plan to slash pension...Prime Minister Keir Starmer, accompanied by Rachel Reeves and Ed Miliband, visited a glass factory today. Their visit aimed to engage with workers and address key issues facing the industry, highlighting the importance of British manufacturing.
Read more »
Inheritance taxes 'in the crosshairs' at Budget as Rachel Reeves 'abandons mad plan to slash pension...Prime Minister Keir Starmer, accompanied by Rachel Reeves and Ed Miliband, visited a glass factory today. Their visit aimed to engage with workers and address key issues facing the industry, highlighting the importance of British manufacturing.
Read more »
Inheritance taxes 'in the crosshairs' at Budget as Rachel Reeves 'abandons mad plan to slash pension...Prime Minister Keir Starmer, accompanied by Rachel Reeves and Ed Miliband, visited a glass factory today. Their visit aimed to engage with workers and address key issues facing the industry, highlighting the importance of British manufacturing.
Read more »
Why Rachel Reeves will raise taxes at the BudgetRachel Reeves is set to raise taxes in October's Budget - but why do her self-made rules mean she has to do so
Read more »