What they say
The Independent
“It is impossible for things to improve sufficiently by next spring for Labour to avoid a further round of catastrophic election results. The party’s campaign song in 1997 was Things Can Only Get Better. The country is entitled to know when and how that is going to happen — or must the glass stay half empty?”
Daily Mail
“With a financial black hole of some £30billion to fill at the Budget, the sensible solution would be for the Government to grit its teeth and make meaningful cuts in public spending. Sadly, Labour’s backbenchers won’t let this happen. Surely even Rachel Reeves must realise that another tax raid will just make things worse.”
Daily Express
“The Chancellor is presiding over the crushing of enterprise. A radical change of direction is required. Entrepreneurs, innovators and the heroic men and women who work to keep their businesses alive deserve urgent help. The Treasury must not drop a new tax bomb on them.”
What we say
The Chancellor’s comments confirmed what we’ve all known for months — that tax rises are on their way in the Budget. She said “of course, we’re looking at tax and spending” as she scrambles to plug a black hole in the public finances. Speaking ahead of her November 26 statement, she blamed Brexit, Liz Truss’s disastrous mini-budget, austerity, conflicts around the world and Donald Trump’s trade tariffs — pretty much anything other than the Government’s handling of the economy. The International Monetary Fund added to the Chancellor’s woes when it predicted the UK will face the highest rate of inflation among G7 nations both this year and next, driven by rising energy and utility bills. The additional suggestion of spending cuts by Reeves is interesting. After the botched attempts at welfare cuts earlier this year it’s hard to see how this will gain the backing of Labour backbenchers.
