Rachel Reeves' Historic Tax Rise: Impact on UK's Economic Landscape

UK Finance Minister Rachel Reeves announces a significant tax-raising budget. Online gambling operators face increased taxes, while high street betting shops are spared. A fiscal watchdog apologized for premature budget details release. Meanwhile, energy operators warn of potential gas shortages in the 2030s.

In a significant move, UK Finance Minister Rachel Reeves unveiled a tax-raising budget, setting a new record for the UK's tax take. Taxes will increase for workers, pension savers, and investors to help meet the country's deficit reduction targets.

The budget imposed steep tax rises on online gambling operators but notably excluded high street betting shops and fruit machines. This decision brings partial relief to the gambling sector, which was anticipating harsher measures.

The government's fiscal watchdog faced scrutiny for prematurely revealing details of Reeves' budget, complicating the finance minister's efforts to shift the political dialogue. Additionally, there is a warning from Britain's energy system operator about potential gas shortages in the coldest days of the next decade.

(With inputs from agencies.)