Rachel Reeves Defends Tax Increases Amid Criticism
Rachel Reeves Defends Tax Increases Amid Criticism
Rachel Reeves Defends Tax Increases Amid Criticism
News summary

Chancellor Rachel Reeves defended her decision to raise taxes, including employer National Insurance and capital gains tax, to fund investments in schools and the NHS, despite only 20% of voters believing it will benefit the economy. Critics argue the 'maxi-Budget' could worsen the UK's financial situation, as markets reacted with volatility. However, Reeves received support for freezing fuel duty in response to public demand against price hikes, saving motorists a potential £175 annually. Meanwhile, in Malaysia, a new cost of living index, PAKW, was launched to provide a clearer picture of basic expenses required for a decent living, aiming to aid government policy and business insights. The index, available via an online calculator, shows significant cost disparities between urban and rural districts, suggesting targeted assistance could be more effective.

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