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Labour’s Budget is met with scepticism and praise by the UK media – both online and in print.
The right and left-leaning media react differently to the budget.
Trending – Labour budget met with scepticism and praise
On Wednesday the government delivered the October Budget. It marked the first Labour Budget in 15 years and the first time a woman had ever delivered the country’s financial statement.
Rachel Reeves was appointed to the government as Chancellor of the Exchequer in July when Labour won the general election, becoming the first woman to hold the office in its over 800-year history.
The government’s budget laid out plans to boost public spending by taking out bigger loans and raising taxes, particularly those on companies, the wealthy and financial investors.
The £40 billion additional tax revenues will be used to boost the economy and improve public services.
The facts
- The Chancellor delivered the budget on Wednesday
- Tax raises will see £40 billion in additional tax revenues
- The extra money will be used to boost economy and improve public services
The reaction
Many of the right-leaning press highlight that much of the tax burden will fall on businesses and suggest that the tax rises will damage living standards. The paper reports the budget took the tax burden to the highest level on record.
The left-leaning newspapers have a much more positive take on the budget noting that there will be an injection of cash into the NHS and the country’s schools. Much of Reeves’ package has begun the hard work of stabilising public services, raising capital investment and improving the fiscal rules.
The front pages
What are users saying on Twitter/X?
Read the Tweets!
What would be the 'balancing' equivalent of having a billionaire Tory donor, & former party Treasurer, ennobled by David Cameron to discuss the budget? Rachel Reeves's mum?
— James O'Brien (@mrjamesob) October 31, 2024
I don’t have a child at private school.
— Tess (@tessalonso) October 30, 2024
I don’t own or will ever inherit a mansion.
I don’t travel by private jet.
I don’t have a second home.
I’m never going to be in a position to pay capital gains tax.
So why does Sunak think I’ve been ripped off? 🤣#Budget2024
Budget Summary:
— Gareth Morgan CMDip (@golfmanagergm) October 30, 2024
Do u have a child at private school?
Do u own or will u ever inherit a mansion?
Do u travel by private jet?
Do u have a second home?
Will u ever be in a position to pay capital gains tax?
If not, stop parroting what the Daily Mail is feeding you!🤣#Budget2024 pic.twitter.com/cwGPhn6ywv
Tears today for all the millionaires with non Dom status who send their kids to private school and fly around on private jets. Bless. #Budget2024 pic.twitter.com/wQwUKme6PV
— Kirsty (@CampaignChorus) October 30, 2024
if u can afford to send ur child to private schools u can afford the tax put on the fees #Budget2024 pic.twitter.com/D421kZh4Dz
— dia (@moodswunglrh) October 30, 2024