Is the Budget bite going to be rather less painful than its bark?

Published On Sep 23, 2024, 9:34 AM

The article discusses a recent speech by Chancellor Rachel Reeves at the Labour Party conference, where she shifted the government's tone on the economy from pessimism to optimism. She indicated that tax rises would not primarily impact working families and emphasized the importance of investment, specifically in infrastructure, to drive economic growth. The Chancellor's message contrasts sharply with previous warnings of a 'painful Budget,' suggesting that while tough decisions will be made, the impact may not be as severe as previously anticipated. The upcoming Budget on October 30 is expected to outline further investment strategies and adjustments in government borrowing rules to support growth.