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Huffington Post // Technology

Rachel Reeves Promises To 'Invest Invest Invest' As She Prepares For Massive Budget Tax Hikes

Wednesday 30th October 2024, 7:56AM

Rachel Reeves puts the finishing touches to her Budget speech.Rachel Reeves will pledge to “invest invest invest” in public services as she unveils huge tax rises in the Budget.The country’s first ever female chancellor will announce increases to inheritance tax, capital gains tax and employers’ National Insurance as she seeks to raise £40 billion to fill the “black hole” she says Labour was left by the Conservatives.Income tax thresholds are also set to be frozen once again, dragging millions of workers into higher tax bands.But the national minimum wage will go up by nearly 7% as Reeves promises to put “more pounds in people’s pockets”.The chancellor has already confirmed changes to the government debt rules which will allow her to borrow an extra £50 billion to boost the Treasury’s coffers.The NHS is expected to be one of the biggest Budget winners, receiving billions of pounds of extra investment to meet Labour’s pledge to bring down waiting lists.More money will also be made available to build mo

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