Chancellor Reeves Delivers Labour's First Budget in 15 Years

Chancellor Rachel Reeves delivered Labour's first budget in 15 years, focusing on revitalizing the economy with a £22.6 billion increase in the NHS budget and funding for new equipment and infrastructure. Reeves announced a 4.1% increase in state pensions, a 1.7% rise in various DWP benefits, and a National Insurance hike for employers to support these changes. The budget includes significant defense spending and a commitment to financially support Ukraine amidst its ongoing conflict. Investments in infrastructure and education, including funding for affordable housing and school repairs, reflect Labour's aim to stimulate economic growth through investment. Despite positive measures, Labour MPs express concerns about meeting high public expectations and impacts on NHS service delivery and social welfare policies. Rachel Reeves' role as the first female Chancellor delivering the budget signifies a shift in British politics and highlights her commitment to economic stability.