Reeves announces UK Budget with £40bn tax rises

Many of these taxes will directly hit businesses rather than workers.

Rachel Reeves says her first budget will rebuild Britain and will fill a £40bn “black hole in public finances” by raising taxes.

Amongst the changes that might affect you…

The minimum wage is going up. Over-21s will get a 6.7% rise – 18 to 20-year-olds will see a 16% increase.

Duty is being introduced on vaping for the first time. A small bottle of vape juice will cost £2.20 more in a couple of years because of that tax.

There is cash to compensate people who are given infected blood transfusions by the NHS and for the wrongly prosecuted Post Office workers.

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