Reeves Drops Income Tax Hike, Shifting Fiscal Strategy

Finance Minister Rachel Reeves drops income tax hike plans, marking a shift in governments fiscal strategy. This reversal comes after a week of government communication fiascos and questions about commitment to tough fiscal decisions. The move has impacted financial markets, with long-dated British government bond yields seeing a significant jump. Experts question the credibility of new assumptions and express concerns about the impact of constant policy changes on businesses.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.