Oct 28, 2021
Budget 2021: There has been a shift in Tory philosophy - minister
The party has traditionally tried to cut taxes and keep spending down. The Institute for Fiscal Studies think tank said the spending plans were "More similar" to those of the Labour governments in the 2000s than those of George Osborne - a former Conservative chancellor. Labour's shadow chancellor Rachel Reeves told ITV News that it was important to raise money "But not in the way the government is doing it". A real-terms rise in spending for every government department. The chancellor scrapped next year's planned increase in business rates in England and promised more frequent revaluations, and tax breaks for firms that make improvements to their properties, from 2023.The government has faced strong criticism over its decision to reduce the universal credit benefit by £20-a-week.
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