Cabinet minister Pat McFadden indicated potential tax rises due to financial consequences from recent backtracking on welfare reforms while asserting Labour's commitment to tax promises made in their election manifesto. He declined to speculate on the budget amidst various evolving factors. Helen Miller from the Institute for Fiscal Studies noted that the locking in of departmental spending plans and the reversal of cuts makes it increasingly likely tax rises are necessary. Shadow chancellor Sir Mel Stride highlighted concerns about Labour's economic management, stating families will suffer uncertainty regarding future tax implications.
Cabinet minister Pat McFadden has warned of "financial consequences" due to the Prime Minister's last-minute changes to welfare reforms, without ruling out potential tax rises.
McFadden reiterated Labour's commitment to honor their election manifesto tax promises, but acknowledged the uncertainty of future budgets due to various unpredictable factors.
Helen Miller, of the Institute for Fiscal Studies, pointed out that with government spending plans locked in and cuts reversed, tax increases are becoming more likely.
Shadow chancellor Sir Mel Stride criticized Labour's economic management, suggesting families will face distress while waiting for clarity on the potential upcoming tax rises.
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