UK Prime Minister Keir Starmer has warned that the upcoming October budget will be 'painful' due to a £22 billion black hole in public finances left by the previous Conservative government. Starmer emphasized the need for tough decisions, including potential tax hikes on capital gains and inheritance, as well as spending cuts, to address the nation's financial and societal issues. He reassured that income tax, VAT, and National Insurance would remain unchanged, while emphasizing that those with 'broadest shoulders' should bear the heavier burden. Starmer also addressed recent far-right riots, attributing them to the divisive tactics of the previous government. Labour's Chancellor Rachel Reeves is expected to detail these financial measures in her debut budget in October.