Chancellor Rachel Reeves and Prime Minister Keir Starmer strategically preannounced key measures in this year's UK budget, aiming to mitigate the impact of a traditional Labour tax-and-spend approach. Their main revenue-raising proposal includes a rise in employers' National Insurance Contributions, expected to generate an additional £25 billion. This move comes amid the ambiguity of their manifesto pledge not to raise taxes on "working people."
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