Reeves is preparing to deliver a speech on the supposedly “surprise” £20 billion black hole Labour have found after looking at the books. Reeves is still pushing the narrative that Labour is “shocked” by the numbers, despite the head of the Institute for Fiscal Studies blasting the claim as “not credible”. Now key ally and Cabinet Office minister Pat McFadden is paving the way for surprise additional tax rises, u-turning on their “no ifs, no buts” election promise not to do so…
Speaking on Times Radio this morning, McFadden said:
“We also said there was nothing in our plans at the election that required increases in taxes. That was the case during the election and today what you will hear is how we are going to have to respond to that opening of the books and I think what people should expect today is not tax measures but a Chancellor that is prepared to take some very tough decisions in spending.”
It looks like cuts in infrastructure spending – despite claiming to be ‘pro-growth’ – and increases in taxes on savings and investment will be the theme of this Labour government. They can’t blame the Tories forever…
Lucy Powell on LBC, asked by Tom Swarbrick for her reaction to Labour MP Samantha Niblett’s call for a ‘summer of sex’ debate in Parliament: “I personally don’t own any sex toys, but each to their own… I’m not really sure that’s the right place for it, no.”