"It is going to be a long 12 weeks, critical to the chancellor, the government and the nation's economy. Rachel Reeves chose to talk to me at a Birmingham housebuilding development to launch the Budget process as she tried her hand at some bricklaying. However, the obligatory hard hat might come in rather handy away from the site as the chancellor wanted to get across that the point of her Budget would not just be to "raise enough money" for public services - which is code for tax rises."
"First and foremost, that requires a reassertion that she is in charge of this process. "I will make the decisions," she said, "in lockstep" with Number 10. Reeves dismisses 50bn 'black hole' in UK finances That statement is in a week of economist transfers where the Treasury has become something of a feeder club to Number 10. Off the junior ministers' bench has been Darren Jones, Reeves' former deputy, who has taken up a newly-created role as Chief Secretary to the Prime Minister."
Chancellor launched the Budget process at a Birmingham housebuilding development, attempting bricklaying to symbolize hands-on approach. The Budget aims to enact structural tax reforms to boost productivity, growth, and living standards rather than merely raising revenue. The chancellor intends to lead the process and make decisions in lockstep with Number 10. The Treasury rejected claims of a £50bn fiscal 'black hole' and dismissed IMF bailout speculation. Proposals for tax rises on property, banks and pensions were labeled wrong and irresponsible. The Office for Budget Responsibility warned that promises on tax and spending are frequently not kept. Junior ministerial shifts include Darren Jones becoming Chief Secretary to the Prime Minister.
Read at www.bbc.com
Unable to calculate read time
Collection
[
|
...
]