Chancellor Rachel Reeves' "Budget for growth" may yield short-term benefits, but expert forecasts suggest it won't enhance the economy in the next three to five years.
The National Insurance rise for employers is one of the largest tax-raising measures in history, projected to generate £20 billion annually, complicating private investment.
This massive £70 billion budget bump increases the size of the UK state significantly, which the Chancellor defends as crucial for long-term growth and infrastructure.
Reeves's budget serves as a critique of the previous Conservative administration, revealing a £22 billion funding gap and framing Labour as the solution to past oversights.
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