Treasury watchdog says impact of Rachel Reeves' huge 'jobs tax' in first Budget was even worse than expected

The Treasury watchdog revealed that Rachel Reeves' controversial "jobs tax" in her first budget led to an even bigger hit on UK growth than anticipated, with the Office for Budget Responsibility revising its forecast down from 2% to just 1.4% for last year. This shift underscores the significant economic impact of the tax, which critics argue hindered job creation and economic recovery. The news matters as it highlights the potential unintended consequences of fiscal policies and raises questions about future economic strategies.