Budget 2024 live: Rachel Reeves to announce up to £35bn in tax hikes in first Labour Budget for 14 years

Rachel Reeves will announce her first Budget today, pledging to increase the minimum wage to £12.21, a 6.7% raise aimed at creating a “genuine living wage for working people.” She plans to invest in public services to improve living standards, emphasizing the need for economic stability and growth through increased investment. Reeves aims to put “more pounds in people’s pockets” by boosting the economy, creating wealth and opportunities for all, and ensuring a reliable NHS.

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