this post was submitted on 09 Nov 2024
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Britain cranks up taxes by £40B and gambles on growth (www.politico.eu)
submitted 4 days ago by Grainne@lemmy.dbzer0.com to c/world@quokk.au
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Labour’s Rachel Reeves signaled that the new British government plans record tax rises on the wealthy and on business.

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[–] Skua@kbin.earth 8 points 4 days ago

Annual government spending was about 1.2 trillion last year, so it's about 3.5% of that. Alternatively it's about 30% of last year's deficit