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A recent study shows strong public backing for a proposed 2% tax on assets over £10 million, with 63% of respondents in favor. This tax could raise up to £24 billion, addressing budget shortfalls more favorably than cuts to public services. The Labour government faces pressure to implement this tax in the upcoming budget.
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Chancellor Rachel Reeves is preparing for Labour's first budget on October 30, amid rising speculation about potential tax increases, particularly on employer national insurance contributions. The government must address a £22 billion fiscal shortfall while adhering to manifesto commitments not to raise taxes on working people, complicating fiscal strategies.
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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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Prime Minister Keir Starmer has announced a comprehensive 10-year plan to reform the NHS, emphasizing the need for significant changes to address long waiting lists and improve community health services. This follows a critical report by Lord Darzi, highlighting the NHS's urgent need for reform amid rising healthcare demands and preventable diseases.
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The UK's national debt is projected to rise to over 270% of GDP by the mid-2070s, driven by an ageing population, climate change costs, and geopolitical tensions. Current debt stands at approximately £2.7 trillion, nearly 100% of GDP, necessitating urgent policy action to avert a fiscal crisis. The government is urged to invest in health reforms to improve productivity and reduce costs.
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At the Labour Party Conference, Health Secretary Wes Streeting declared the NHS 'broken but not beaten,' following a report indicating a critical state of the service. He emphasized the need for reforms to address surging waiting lists and improve patient care, while acknowledging concerns about the impact of negative messaging on public morale.
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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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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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As the Conservative Party conference unfolds, frontrunners Kemi Badenoch and Robert Jenrick face scrutiny over their policies and remarks. With the final two candidates to be decided by Tory MPs on October 10, the leadership contest is intensifying ahead of the November 2 announcement of the new leader.
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The UK Chancellor's cuts to winter fuel payments for pensioners have raised concerns about financial impacts, with a surge in pension credit claims undermining projected savings. The Labour government faces backlash as it attempts to address a £22 billion deficit inherited from the previous administration.
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As the Conservative Party conference unfolds, leadership candidates Kemi Badenoch, Robert Jenrick, Tom Tugendhat, and James Cleverly are vying for support. The party grapples with internal divisions and the aftermath of a historic election defeat in July 2024, prompting calls for significant change and reflection on past failures.
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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.