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The story features on a handful of front pages this morning – as well as on social media and media websites.
Trending – What’s the Chancellor got planned for the October Budget?
There are a few trending stories across the UK news landscape today – both in print and online. One of the most popular is the ongoing speculation around Chancellor Rachel Reeve’s upcoming Budget – her first Budget is set to be released on 30 October.
In a recent speech at the 2024 Labour Party conference, the new Chancellor promised that the fiscal event would be a ‘Budget for investment’.
Basic facts
- Chancellor Rachel Reeves’ Budget is set for October 30
- The Budget – or financial statement – is a statement made to the House of Commons by the Chancellor on the nation’s finances and the government’s plans for changes to taxation
- The Budget also includes forecasts for the economy by the OBR
- The Chancellor has already said the fiscal event would be a ‘Budget for investment’
The reaction
The newspapers speculate on whether the chancellor will ‘soften’ her stance on abolishing the non-dom tax status amid Treasury fears that some of the measures may fail to raise any money.
The right-leaning publications feature the opinions of former Tory MPs with one leading on the comments from Jeremy Hunt who criticises Labour for failing “to understand the importance of globally competitive tax rates.”
Several papers – including business papers CITY AM, FT – report that the chancellor could “tweak” the rules on borrowing to bring in a £50bn boost to the economy. Sources say officials have been asked to draw up options to “offset” assets such as the money owed in student loans – against the wider national debt.
But that measure, some critics say, could keep interest rates higher for longer.
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Trending on social media
What are users saying on Twitter/X?
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#AbolishTheMonarchy #NotMyKing
— Ivan White (@ivanwhite48) September 24, 2024
I hope Rachel Reeves will be looking into this before presenting her budget on 30 October:- https://t.co/Sam01DvSqA
📊 UK Financial News – 23/09/2024
— Goldhawk Investing (@GoldhawkInvest1) September 23, 2024
– Chancellor Rachel Reeves signals no return to austerity, warns of tax hikes in October's budget
– Focus on long-term growth and capital spending to rebuild the economy
– UK public debt reaches 100% of GDP#Finance #budget #economy
Chancellor Rachel Reeves has shifted her rhetoric to promise a more optimistic vision for the country, potentially allowing Labour to borrow more for public spending. This change in approach could lead to a different landscape for the budget on October 30. pic.twitter.com/iyYVsGFzIM
— Politics In 60 Mins (@PoliticsIn60Min) September 23, 2024