Try AI-powered search
Catch up quickly on the global stories that matter
Updated less than 1 hour ago
Rachel Reeves, Britain’s finance minister, delivered the Labour party’s first budget in 14 years. Ms Reeves announced £40bn ($52bn) in tax increases, including raising employers’ national insurance contributions by 1.2 percentage points to 15%. Britain’s government will boost public investment by more than £100bn over the next five years, increasing spending on transport, schools and hospitals.
America’s economy grew by an annualised rate of 2.8% in the three months to September, just shy of analysts’ expectations of 3%. America’s Bureau of Economic Analysis said that strong consumer spending and exports boosted growth. Data published on Thursday is expected to show that inflation has eased, too. America’s economy has vastly outperformed other rich countries.
Published since September 1843 to take part in “a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress.”
To enhance your experience and ensure our website runs smoothly, we use cookies and similar technologies.
Copyright © The Economist Newspaper Limited 2024. All rights reserved.
