Finance — FORMER UK CHANCELLOR REEVES'S RECORD MARKED BY POLICY REVERSALS, TAX HIKES

Former UK Chancellor Rachel Reeves's term in office was characterized by several major policy U-turns and tax increases that burdened businesses and workers. Her administration raised the employer National Insurance rate to 15%, scrapped business rates reliefs, and extended a freeze on income tax thresholds until 2031. Controversial plans to remove the winter fuel payment for many pensioners and impose inheritance tax on family farms were both partially walked back following significant political and public pressure.