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Politics latest: 'Catastrophic' new year in store thanks to budget tax rises, says prominent Labour backer

The article from Sky News discusses the political and economic landscape in the UK as the new year approaches. It highlights concerns raised by Lord Sainsbury, a significant Labour Party donor, who warns of a "catastrophic" year due to impending tax rises and budget constraints. The piece covers the ongoing debate over the government's economic policies, with Labour's shadow chancellor Rachel Reeves criticizing the Conservative government's handling of the economy, particularly in light of the Autumn Statement which included tax increases. Additionally, the article touches on the political maneuvering within the Conservative Party, with mentions of potential leadership challenges and the government's response to economic forecasts predicting a challenging year ahead. The narrative also includes reactions from various political figures and economic analysts, reflecting a broad spectrum of concern about the UK's economic future.

Read the Full Sky Article at:
[ https://news.sky.com/story/politics-latest-catastrophic-new-year-in-store-thanks-to-budget-tax-rises-says-prominent-labour-backer-12593360 ]