Today the government has unveiled its latest budget with billions set to be spent on improving public roads, housing, broadband, the NHS and railways, as well as extra funds to combat the spread of coronavirus.

A tax will be introduced on plastic packaging and business rates for pubs will rise to £5000 in 2020. Tax rates on alcohol and fuel will remain the same while £900m will be ploughed into research for nuclear fusion, electric vehicles and space travel.

Scotland will receive £640m, Wales £360m and £210m will be given to Northern Ireland as a part of the first budget delivered by new chancellor Rishi Sunak.

As this is the first budget under the new government and the first outside of the EU many were keen to see what the Tories would be spending money on, especially when there would be much demand for them to offer a firm solution to the coronavirus.

At first glance, reception to Sunak's budget is mostly positive.

However, as many have picked up on, if a Labour government would have released this sort of budget then the reaction might have been a lot different.

But remember that "magic money tree" that Theresa May used to say wasn't real? Remember when there wasn't money for anything? Well it appears that she was wrong after all...

In response, Labour Party leader, Jeremy Corbyn, said that the budget showed that Tory austerity had been a failure and that these measures will go no way to reversing the damage.

The reality is that this is a budget which has an admission of failure - an admission that austerity has been a failed experiment. It didn’t solve our economic problems, but made them worse, that held back our own recovery and failed even in its own terms ...

Today’s measures go nowhere near reversing the damage that has been done to our country ...

Looks like they finally found the "magic money tree" after all.

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