💨 Abstract

British Finance Minister Rachel Reeves announced her budget update, stating increased global uncertainty has affected the public finances and economy. She confirmed no further tax increases, an increase in capital spending for economic growth, and a reduction in day-to-day spending. The minister also revealed plans to save 4.8 billion pounds in the welfare budget, invest in novel defense technologies, and increase housing construction. Inflation is forecasted to average 3.2%

Courtesy: theprint.in

Summarized by Einstein Beta 🤖