Chancellor to set out plan to balance the books, as Labour claims Tories ‘deliberately covered up’ dire state of public finances
will accuse Rishi Sunak’s government of a “cover up” over the dire state of the public finances when she
The Chancellor will also indicate how Labour will begin to balance the books by delaying or scrapping a series of Government spending projects.took a closer look at the ways Ms Reeves could choose to plug the fiscal hole, as she prepares to give the first glimpse of what Labour’s Autumn Budget may look like.Labour repeatedly ruled out changes to VAT, national insurance and income tax during the general election campaign. Ms Reeves has also indicated she does not want to increase corporation tax.
The Resolution Foundation has said closing loopholes to end generous IHT relief could raise £2bn a year. Ex-pensions minister Steve Webb has said inheritance tax is among the “most likely” areas of change for the new Government.– raising up to £4bn a year. Fuel duty has been frozen in nominal terms since 2011, and was cut by another 5p during the cost of living crisis.
While the chancellor will point to the current shortfall, scrapping major infrastructure projects while leave Labour open to accusations it is not serious about boosting long-term economic growth.The Conservatives’ proposals to build or expand 40 hospitals could be postponed by the Labour Chancellor, according to reports. The Tories were accused of making little headway on its promise to deliver the new facilities by 2030.
Teachers and some 1.3 million NHS staff could be in line for a 5.5 per cent pay boost, which could cost about £3.5bn more than had been budgeted for.
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