Rachel Reeves has affirmed her commitment to not stepping down if she implements tax increases in her upcoming Autumn Budget. The Chancellor, earlier today, declined to uphold Labour’s pledge not to raise income tax, VAT, or national insurance. Acknowledging the need for tough choices in the November 26 Budget, Reeves emphasized the importance of addressing NHS waiting lists, reducing the cost of living, and cutting national debt.
During an interview with LBC’s Andrew Marr, Reeves faced suggestions that she might consider resigning if she raises income tax. Marr proposed a scenario where she would admit the necessity of tax hikes but then resign as Chancellor, emphasizing honesty and integrity in decision-making. In response, Reeves highlighted the potential impact on financial markets if such a course of action were taken.
Refuting concerns about breaking Labour’s manifesto promises, Reeves emphasized the need for transparency and honesty in government actions. She expressed her determination to not manipulate figures or delay crucial projects to meet short-term goals, highlighting the importance of upholding principles over political expediency.
Speaking from Downing Street before the markets opened, Reeves hinted at potential tax increases in her pre-Budget speech, urging collective responsibility in facing the current economic challenges. She criticized the austerity measures of the previous government and the repercussions of a hurried Brexit deal on businesses.
Reeves asserted her commitment to honesty and integrity in decision-making, stating that her role as Chancellor required making tough but necessary choices. She reassured that her upcoming Budget would not mirror the significant tax rises of the previous year, which aimed to address the financial deficit left by the Conservative government.
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