AssetID: 54336953
Headline: UNCAPTIONED: Chancellor Reeves Pledges End to Major Tax Hikes
Caption: Chancellor Reeves Pledges End to Major Tax Hikes. Chancellor Rachel Reeves has ruled out further tax increases or borrowing during the current government’s term. Speaking at the Confederation of British Industry (CBI) conference, Reeves emphasized that her recent budget which included raising employers' national insurance contributions and the minimum wage, was necessary to stabilize public finances.She assured attendees, "We won't have to do a budget like this ever again”. However, the budget has drawn criticism from major UK businesses, citing higher costs that could lead to job cuts and price hikes. The Office for Budget Responsibility warned the measures might increase inflation. Reeves defended her approach, stating there was no alternative to addressing the £22 billion public finance deficit, which required "difficult decisions”. She added that full consultations on employer taxes weren’t possible due to the confidential nature of budget processes. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,UK,United Kingdom,chancellor Rachel Reeves,ruled out,futher,tax increases,CBI conference,national insurance,employers contributions,budget,criticism,businesses,meaures,increase,inflatioon,public finance deficit
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