UK PM Starmer warns of 'painful' October budget to tackle shortfall in public finances
"We have no other choice given the situation that we're in. Those with the broadest shoulders should bear the heavier burden," Starmer said.
https://www.cnbc.com/2024/08/27/uks-starmer-warns-of-painful-october-budget-to-tackle-public-finances.html
Sir Keir Starmer announced upcoming spending cuts to address a £22 billion shortfall. Labour plans to raise funds through tax measures and strengthening regulations. The government focuses on economic growth and fiscal responsibility. Starmer emphasized the need for short-term sacrifices for long-term benefits. The speech received criticism from other political parties. The Conservatives' response is awaited by financial markets. Labour aims to avoid raising taxes for working people in the upcoming budget. Starmer warned of more tough decisions ahead.