Reeves explained that the most prominent tax increases include employer contributions, which will rise to 15 percent, which will generate 25 billion pounds annually.
It also includes increasing the capital gains tax to up to 24 percent for the highest rate, but the minister stressed that “the capital gains tax rate will remain the lowest among any European economy.” Group of Seven“.
Reeves stressed that “the only way to improve living standards and stimulate economic growth is investment, investment, investment,” adding that economic stability must be “restored and the page on the past 14 years” during which the Conservatives ruled Britain must be “restored.”
The Minister also announced that the Office for Budget Responsibility had improved its forecasts for the growth of the British economy for the coming years, anticipating an increase of 1.1 percent in GDP this year (compared to 0.8 percent in the previous forecast) and 2 percent next year, compared to 1.9 percent previously.
