Connect with us

Hi, what are you looking for?

Economy

While farmers protest, UK’s Starmer says will defend budget ‘all day long’

LONDON (Reuters) – British Prime Minister Keir Starmer said on Saturday he would defend decisions taken in his new Labour government’s first budget “all day long”, while farmers protested over changes to inheritance tax.

Addressing the Welsh Labour Conference in Llandudno, north Wales, Starmer did not refer to the farmers’ complaints directly, but he said he stood by the decisions made in finance minister Rachel Reeves’ Oct. 30 budget statement.

“Make no mistake, I will defend our decisions in the budget all day long,” he said.

“I will defend facing up to the harsh light of fiscal reality, I will defend the tough decisions that were necessary to stabilise our economy.”

While Starmer spoke, hundreds of farmers protested outside the conference venue over a budget measure that will mean more of them having to pay inheritance tax.

They have warned that the move will threaten the viability of farms, make produce more expensive and threaten food security.

Farmers plan a major protest in London on Nov. 19.

UK businesses have also warned that increased employment taxes and a rise in the minimum wage from the budget will stoke inflation and have a negative impact on investment and jobs.

This post appeared first on investing.com

You May Also Like

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com