Reeves says Budget will increase taxes by £40bn

Chancellor Rachel Reeves announced a £40 billion tax rise in the Commons, blaming Conservative mismanagement for the financial "black hole" facing the UK.

She criticised the Conservatives’ failure to acknowledge past mistakes, stating, “This is a changed Labour Party, and we will restore stability.” Reeves pledged to rebuild public services, calling the Budget a step toward restoring stability and responsibility to the nation’s finances.

Report by Covellm.

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