The Chancellor of the Exchequer, Rachel Reeves, has faced criticism from business leaders over her recent Budget and has responded by ruling out any further tax increases. In her speech to the Confederation of British Industry (CBI) she stated that she would not have to return for more. This follows the announcement of a £40 billion “tax bomb” in the Budget that has left many in the business community unhappy. CBI Chairman Rupert Soames has accused the government of using business as a “cash cow” to fund their spending. Despite these complaints, Reeves seeks to reassure businesses that the Budget was good for job creation and growth.
The Daily Telegraph covers the same story, with a headline stating that bosses are “turning on Reeves” and that fears are increasing about the lack of investment in the country under a Labour government. The Labour Party is due to unveil a “flagship back-to-work plan” that, according to the paper, is a “blow to business” as it does not undertake a “crackdown” on sickness benefits.
The i newspaper reports that while Reeves has ruled out further tax increases for this parliament, public services will still be operating with tight budgets for another four years. The paper suggests that an upcoming storm, Bert, will bring further flooding.
The Times details the promise of Prime Minister Keir Starmer to overhaul job centres in order to tackle unemployment and sickness in the country, with the aim of keeping more long-term sick individuals in their jobs. It also highlights the growing trend of single women in their 30s having babies without partners.
The Guardian leads with the news that teenagers are to receive skills training at companies such as Channel Four and the Royal Shakespeare Company to aid their ability to enter employment. The paper also notes that a ceasefire agreement between Israel and Lebanon is set to be agreed
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