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The UK economy grew by only 0.1% in the third quarter of 2024, significantly below expectations. This disappointing figure follows Labour's election victory, raising concerns about the government's ability to stimulate growth amid rising taxes and uncertainty in business investment. The economy contracted by 0.1% in September, indicating a slowdown.
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Kemi Badenoch, the new leader of the Conservative Party, is focusing on reversing the VAT hike on private schools and addressing economic issues. She faces challenges in uniting her party and responding to criticisms regarding her leadership style and policy clarity. The party's internal divisions and public trust issues remain significant hurdles.
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Chancellor Rachel Reeves' recent budget has sparked controversy after raising employer national insurance contributions, contradicting Labour's election pledge not to increase taxes on working people. Critics argue this move will ultimately reduce workers' wages, undermining public trust in the government.
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Chancellor Rachel Reeves has faced backlash for raising taxes by £40 billion, contradicting her pre-election promise not to increase taxes. She cites a £22 billion financial shortfall inherited from the previous government as justification, while critics question the legitimacy of this claim and its implications for public services and economic growth.