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The dust is starting to settle on Chancellor Rachel Reeves’s first Budget, but economists will be debating its likely impact for months to come – if not years (lucky us). What’s not up for debate is that this was an important Budget. “This budget delivers one of the largest increases in spending, tax and borrowing of any fiscal event in history,” Richard Hughes, chair of the OBR said. As a result of the government’s policies, the size of the state will rise to 44 per cent of GDP by the end of the decade, five percentage points larger than it was pre-pandemic. The tax take will rise to over 38 per cent of GDP, its highest-ever level. Get more of the story 👇 https://www.cityam.com/what-will-the-... Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): / cityam Facebook: / cityam Instagram: / city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Chris Dorrell, Joseph Curay Teneda, Larissa Howie