Taxing Choices Ahead of the Budget
The current chancellor, Rachel Reeves, is preparing for the upcoming budget. The stakes are high, and every chancellor has their own approach to the pre-budget routine.
Previous chancellors have dealt with this differently: Ken Clarke drafted his budget speech with cigars and whisky, Gordon Brown meticulously reviewed every word, and 'spreadsheet Phil' Hammond focused on the numbers.
With less than two months to go, the Treasury is kicking off preparations, and media speculation is ramping up. The government faces a challenging economic context, including low growth, high inflation, and pressure on public services.
Every chancellor has dealt with this differently.
The budget will be a crucial moment for the government, with significant implications for the economy and public services.
Author's summary: Pre-budget preparations are underway.
- Low growth reduces tax revenues
- Stubbornly high inflation
- Significant pressures on public services
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