UK to face “painful” budget in October, Starmer warns

UK Prime Minister Keir Starmer has cautioned that his government’s upcoming budget statement in October will be “painful,” urging the public to accept “short-term pain for long-term gain.”

In his first major speech since taking office, Starmer revealed that the UK faces a £22 billion deficit, far worse than anticipated, which he attributes to “14 years of rot” under the previous Conservative government.

Starmer’s remarks set the stage for potential tax increases as his administration seeks to restore the nation’s public finances.

Chancellor of the Exchequer Rachel Reeves, who is scheduled to deliver the budget on October 30, previously hinted at the possibility of tax hikes to address the financial shortfall uncovered after Labour’s landslide election victory in July.