The Labour government's first budget in 14 years, presented by Chancellor Rachel Reeves, aims to shift from austerity to increased public investment funded by higher taxes and borrowing. While the budget allocates significant funds to public services, particularly the National Health Service (NHS), it has been criticized for not adequately addressing Britain's economic stagnation, as living standards are projected to decline in the short term. Key housing measures include a rise in the second-home stamp duty surcharge from 3% to 5%, which is expected to slightly impact the housing market while targeting amateur landlords. The budget also introduces various tax changes affecting families across the income spectrum, with low-to-middle income households facing an average income reduction. The government has pledged to restore economic stability and prioritize investment to improve living standards in the long run, despite immediate financial pressures. The Resolution Foundation warns of a broader economic squeeze, predicting that real weekly wages will see minimal growth over the next two decades.