Chancellor Rachel Reeves defended her fiscal rules, asserting that controlling day-to-day spending is vital for freeing up investment liabilities. Despite concerns from businesses regarding tax increases, Reeves highlighted a £22bn revenue gap discovered post-election that necessitated tough decisions to stabilize finances. She expressed confidence in the UK's openness to global talent and emphasized that economic growth remains a priority, hinting at possible future pro-growth decisions without elaborating on specific projects like Heathrow's expansion.
Stability is the prerequisite for economic growth. We’ve wiped the slate clean from the previous government, ensuring businesses know our public finances are in order.
We want to welcome the best people from around the world to help grow the economy. I'll not apologize for my budget—it stabilizes public finances.
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