The Vox Markets Podcast With Justin Waite

MACRO & MICRO - WEDNESDAY 31ST JULY 2024 A daily podcast covering UK Macro & Micro News To receive my weekly tips visit www.sharepickers.com/tips MACRO NEWS "I think we will have to increase taxes in the Budget," Rachel Reeves told the News Agents podcast. She was responding to a question about raising money following her claim on Monday that the previous government left a £22bn "hole" in the public finances. Labour said repeatedly during the election campaign there would be no tax rises on "working people", but the Conservatives had insisted Labour would increase them. Ms Reeves reiterated that the government would not raise VAT, national insurance or income tax, as promised in Labour's manifesto, but she did not rule out increasing inheritance tax, capital gains tax or pension reform. £9BN OF THAT £22BN WAS THE WAGE INCREASES SHE AWARDED TO PUBLIC SECTOR WORKERS! In the last financial year, to March 2024, the government borrowed £122.1bn.  The most recent monthly figures show that borrowing