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As Labour prepares for its first budget on October 30, Chancellor Rachel Reeves faces a £16 billion financial deficit inherited from the Conservatives. The government is considering tax increases, spending cuts, and potential borrowing to address the fiscal challenges while aiming to promote growth and investment.
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As Labour prepares for its first budget on October 30, concerns grow over the potential revenue from proposed tax changes targeting non-domiciled individuals. The party aims to address a £39.8 billion tax gap while facing criticism over cuts to winter fuel payments for pensioners. The political landscape intensifies ahead of the budget.
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Chancellor Rachel Reeves addressed the Labour Party conference, emphasizing a commitment to avoid austerity while tackling a £22 billion deficit. She announced plans for public investment and defended controversial cuts to winter fuel payments for pensioners, amidst criticism from opposition and unions. The budget is set for October 30, 2024.
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As Labour prepares for its first budget on October 30, Chancellor Rachel Reeves faces significant challenges regarding proposed tax reforms targeting non-domiciled individuals. Concerns arise that these measures may not generate the expected revenue, prompting discussions about potential adjustments to the policy.
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At the Labour Party conference, Prime Minister Sir Keir Starmer defended controversial cuts to winter fuel payments for pensioners, emphasizing the need for tough decisions. Critics, including union leaders and charities, have condemned the cuts, arguing they disproportionately affect vulnerable populations. Starmer's speech aimed to reassure party members amid growing dissent.
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Kemi Badenoch and Robert Jenrick will compete in the final round of the Conservative Party leadership contest after James Cleverly was unexpectedly eliminated. Badenoch secured 42 votes, narrowly defeating Jenrick's 41. The final decision will be made by party members, with results announced on November 2, 2024.
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The UK Treasury is in discussions to hold a UK-China Economic and Financial Dialogue in January 2025, marking the first such meeting since 2019. This comes amid ongoing tensions regarding trade and geopolitical relations, particularly concerning electric vehicle tariffs and China's investments in the UK.
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Kemi Badenoch, a leading candidate for the Conservative leadership, has sparked controversy by labeling statutory maternity pay as 'excessive' during a radio interview. Her comments have drawn criticism from political rivals and advocacy groups, highlighting ongoing debates about maternity rights in the UK. Badenoch later attempted to clarify her statements, asserting her support for maternity pay.
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Edinburgh's People's Story Museum faces a seven-month closure due to budget cuts, igniting backlash from local activists and cultural figures. Critics, including author Irvine Welsh, argue this decision erases working-class history, while the council cites staffing shortages and low visitor numbers as reasons for the closure.
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Robert Jenrick, a Conservative leadership candidate, has sparked controversy by claiming UK special forces are 'killing rather than capturing' terrorists due to European human rights laws. His remarks have drawn widespread criticism from political opponents and military experts, raising concerns about the implications for military operations and legal frameworks.
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Japan's Prime Minister Ishiba proposes an Asian NATO to enhance regional security amid rising tensions with North Korea and China. However, skepticism from allies, including the US and India, highlights the challenges of establishing mutual defense obligations in Asia. The proposal is seen as a long-term vision rather than an immediate plan.
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The UK government is reconsidering the HS2 rail project, with discussions about a scaled-back version called HS2-lite. This comes after significant criticism of previous cancellations, particularly the northern leg to Manchester. A decision on the project's future is expected around the Budget announcement on October 30, 2024.
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Chancellor Rachel Reeves is contemplating changes to the UK's debt measurement rules to facilitate increased infrastructure investment. This comes amid rising government borrowing costs and concerns about fiscal stability. The proposed adjustments could unlock up to £57 billion for capital spending, but may also provoke market reactions.
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Natasha McCallum's exploration of the abandoned Archaeolink museum in Aberdeenshire reveals extensive vandalism and decay since its closure in 2011. The site, once a vibrant educational attraction, has fallen into disrepair, prompting reflections on its past significance and future potential after being sold in 2023.