Faisal Islam: Don't expect rabbits, it will be a boffins' Budget

Published On Oct 27, 2024, 8:03 PM

Rachel Reeves is set to present a budget that significantly diverges from her predecessor’s approach, focusing on tighter fiscal policies and expected tax increases. This new budget will address a projected £22 billion deficit and aims to stabilize the economy and public services without a return to austerity. Notably, the strategy includes an increase in employer National Insurance contributions. The overarching goal is to restore market confidence while balancing the demands of public services. Reeves' administration is poised for scrutiny but aims to create a credible financial approach that reassures investors and maintains lower borrowing costs.