Ten Billion Pound Budget Gap: New Tax Announcement Looms

New figures expose a £10 billion gap in the Chancellors budget plans, as the deficit soars to £17.4 billion in October, £3 billion higher than predicted. Rising inflation drives up welfare and public sector pay costs, pressuring national finances. Economists anticipate further tax increases for households and businesses, potentially raising £25 billion to balance the books. The government plans to reduce borrowing, with one in ten pounds of taxpayer money going towards national debt interest. The Chancellor is expected to introduce stealth taxes and increase revenue from incomes, expensive homes, gambling, and pension schemes to cut NHS waiting lists, reduce national debt, and lower the cost of living.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.