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Chancellor Rachel Reeves has announced significant increases in capital gains tax (CGT) rates in the UK, raising concerns among entrepreneurs and investors about potential negative impacts on economic growth and investment. The new rates will take effect in April 2025, with the lower rate rising from 10% to 18% and the higher rate from 20% to 24%.
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Chancellor Rachel Reeves' recent budget, which includes significant tax hikes and increased borrowing, has led to market instability, with rising government bond yields and a falling pound. Despite reassurances from Treasury officials, comparisons to Liz Truss's previous economic turmoil have emerged.
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The UK government has announced an increase in the bus fare cap from £2 to £3, effective until the end of 2025. This decision aims to support millions of bus users, particularly in rural areas, but has drawn criticism from environmental groups and transport advocates.
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As mass protests loom against the government's inheritance tax changes, Prime Minister Sir Keir Starmer is set to defend his Budget in a speech in Wales. Farmers are preparing for a week-long strike, while Chancellor Rachel Reeves aims to reassure the business community with plans for financial reforms.