Britain targets the wealthy as it hikes taxes by $52 billion ...Middle East

By Hanna Ziady, CNN London (CNN) — The United Kingdom is raising taxes by an eye-watering £40 billion ($52 billion), as the government seeks to plug a hole in its finances by targeting higher earners, wealthy foreigners and businesses. UK finance minister Rachel Reeves, the first woman to ever hold the position, unveiled the measures Wednesday in the ruling Labour Party’s first budget since it won a landslide victory in a general election in July. “Today, I am restoring stability to our public finances and rebuilding our public services,” Reeves said, arguing that the now-opposition Conservative Party had “failed” Britain, including by inadequately budgeting for required government sp

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Britain targets the wealthy as it hikes taxes by $52 billion ...Middle East

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