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Saturday’s newspapers are dominated by the controversy surrounding Chancellor Rachel Reeves and the recent Budget announcements. The Daily Telegraph leads with a headline suggesting Reeves is “on the brink over tax lies,” reporting allegations that she misrepresented the state of the UK’s public finances. Critics are accusing her of failing to disclose a higher wage forecast revealed by the Office for Budget Responsibility (OBR), which, if included, would indicate that spending targets could be met without the previously claimed fiscal shortfall.
The criticism intensifies in the Daily Mail, which bluntly demands that Reeves be dismissed, quoting Conservative leader Kemi Badenoch accusing the chancellor of having “lied to the public to justify record tax hikes.” Despite these calls for resignation, Downing Street has defended Reeves, denying that she misled the public regarding the financial position prior to the Budget. The Independent similarly highlights the OBR’s findings, pointing out that Reeves was informed there was actually a £4.2 billion surplus rather than a deficit, and accuses her of misleading the public by portraying a “fake fiscal black hole.”
Other papers pick up on various reactions and consequences stemming from the Budget. The Sun expresses public anger by labeling Reeves “Chancer of the Exchequer,” while the i paper presents the public’s perspective, summarizing voter sentiment as “nice ideas but we will be poorer.” Their polling suggests this Budget is the least popular since the Liz Truss era, although some measures—such as raising the minimum wage and higher gambling taxes—have received some approval. The Daily Express focuses on how the Budget affects pensioners, revealing that 2.2 million are set to lose winter fuel payments, which includes an additional 200,000 more pensioners than before, with experts warning that this number is expected to rise.
Economic concerns extend into other sectors as well. The Times reports on a looming “stealth tax” for the hospitality industry due to a significant reassessment of property values used to calculate business rates, meaning many high street businesses will face increased levies in the coming year. Meanwhile, the Financial Times warns that wealthier homeowners are hurriedly trying to avoid a new “mansion tax” by lowering asking prices to remain under the thresholds laid out in the Budget. In a different vein, the Guardian covers an interview with Reeves, highlighting her argument that the wealthy must contribute more to finance improvements in public services, emphasizing her £26 billion tax increase as a “fair and necessary” measure aimed at enhancing schools, hospitals, and infrastructure
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