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Media Coverage
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 – October Budget backlash as fallout continues
October Budget backlash continues to dominate the news today with continued reactions and analysis of Wednesday’s financial statement. Several papers lead to a rise in the cost of government borrowing amid investor concern about levels of government debt.
Basic 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
Friday’s coverage sees several right-leaning publications suggest the markets have turned on the chancellor. Some try to draw comparisons with the 2022 Liz Truss disastrous mini-budget, but those more inclined to left-leaning media will be told that those working in the City are playing down the comparisons.
They say while a number of business figures have criticised Reeves’ tax rises, “admirable job of balancing spending, borrowing and taxation” in order to drive growth.
- Trending – Labour budget met with scepticism and praise
- Liz Truss has written a book about her catastrophic 49 days in office
The front pages
What are users saying on Twitter/X?
Read the Tweets!
🚨 NEW: A voter says Labour and the Tories are not "fit for office"
— Politics UK (@PolitlcsUK) October 31, 2024
"I do not understand how out of 65 million people, or however many people there are in this country, we end up with economically illiterate people in the government all the time." #bbcqt pic.twitter.com/rR70xzKPcA
Woof. The OBR have comprehensively *rejected* the £22bn ‘black hole’ figure.
— Claire Coutinho (@ClaireCoutinho) October 30, 2024
Will Rachel & Keir admit this was just another lie, and that using it to justify taking the winter fuel payment from millions of pensioners in poverty was wrong?
Will she now retract and apologise? pic.twitter.com/YseNyCLbMO
Poor private jet owners. May I suggest you cancel your netflix and stop buying expensive coffees. You'll get through this xx #Budget2024
— Dave (@InternetDave) October 30, 2024
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
#Budget2024 … pic.twitter.com/yYTS4pi25Z
— John O'Connell (@jdpoc) October 31, 2024
