Unhelpful polling for Reeves today, as a More in Common poll reveals the majority of Britons believe keeping taxes low should be the main priority in the upcoming painful budget. A whopping 53% think Reeves should avoid raising taxes, compared to 32% who think investing in public services is a priority. Just as Starmer warns that the budget will face the “harsh light of fiscal reality”…
Meanwhile, rumoured tax hikes are highly unpopular, with 55% opposing the scrapping of the £2 bus fare cap, decreasing pensioners’ personal allowances and unfreezing fuel duty. If Reeves unleashes her expected tax raids on Wednesday, expect “working people” – who apparently “know who they are” – to be unforgiving in the next election…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”