Low income families may benefit from increased welfare support while middle income earners may face higher tax burdens.
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00:00The upcoming UK budget is expected to bring both opportunities and challenges, with winners
00:07and losers emerging across various sectors. Winners could include businesses in green
00:12energy and technology, as the government is likely to focus on sustainability and innovation,
00:19offering incentives for investment in renewable energy and digital infrastructure. Low-income
00:25families might benefit from potential increases in welfare support and measures to address
00:31the cost-of-living crisis. However, public sector workers may find themselves among the
00:37losers as wage increases are expected to be below inflation, continuing the squeeze on
00:43real incomes. Middle-income earners could face higher tax burdens if personal allowances
00:49are frozen or cut. Additionally, small businesses might struggle if tax hikes are introduced
00:57to help manage the national debt, leaving them more vulnerable in an already tough economic
01:03climate.