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Rachel Reeves will today unveil Labour‘s first Budget in 14 years when she heads to the Parliament to outline an expected £35 billion tax raid to plug a ‘black hole’ at the heart of Britain’s finances.
The first female Chancellor has already announced pay rises to millions of workers by increasing the National Living Wage to more than £12 an hour and additional funding to increase NHS appointments.
But businesses are fearful an anticipated increase in National Insurance contributions will leave them struggling to recruit new staff.
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