Tax rises aren’t the only way to fill a £20bn black hole in government spending
7 months, 2 weeks ago

Tax rises aren’t the only way to fill a £20bn black hole in government spending

The Independent  

Rachel Reeves is preparing to drop a financial bomb on Britain next week. The Institute for Fiscal Studies explained this in its analysis of Labour’s low-fi manifesto that, it said, “leaves literally no room – within the fiscal rules that it has signed up to – for any more spending than planned by the current government”. The plans of that now-previous government involved “cuts both to investment spending and to spending on unprotected public services”. But Reeves’s boss, Britain’s new CEO Sir Keir Starmer, “effectively ruled out such cuts”. What we have been witnessing in recent days is a classic softening-up exercise in which big numbers are bandied around and the prospect of something really unpleasant is pitched so that when Reeves delivers her verdict, it isn’t as bad as everyone feared and there are sighs of relief about the nasties that are announced.

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