Rachel Reeves is going to announce the first Labour Government Budget since 2010 on Wednesday afternoon. The Chancellor will present the UK Government’s tax and spending plans, making tough decisions on spending, welfare, and taxation. She will also change how national debt is measured to allow for more borrowing flexibility.
Scotland’s First Minister, John Swinney, has urged Reeves to increase the funding available for Scotland. The Budget will be delivered right after PMQs on Wednesday, expected to happen between 12:30 and 1pm. You can watch the Budget on Parliament TV or on major broadcasters like the BBC and Sky News.
There has been a lot of speculation about what might be included in this year’s Budget. Swinney mentioned the potential for public investment to boost the economy. He welcomed the Chancellor’s decision to amend her fiscal rules to allow for more investment. Swinney emphasized the importance of investing in public services and supporting Scotland’s business sector. With these new rules, he urged the Chancellor to use the fiscal headroom to enhance Scotland’s funding for public services and infrastructure projects that promote economic growth and address child poverty.
