UK Chancellor Rachel Reeves defends taxing large estates, arguing that high-value landowners should contribute more to fund public services like the NHS, despite backlash from the farming sector.

Tech billionaire Elon Musk has criticised the Prime Minister’s approach to inheritance tax changes on farmland, expressing concern that it unfairly targets farming communities and could negatively impact productivity.

Financial markets have reacted negatively to the latest budget, expressing concerns over increased borrowing costs and a weakened pound, following comments from economic experts and policy decisions from the government.

A proposed £40 billion tax initiative by the Chancellor is projected to stagnate wages and reduce living standards, potentially causing concern among millions of households and businesses.