Rachel Reeves faced a bruising grilling from MPs today after hiding in China while borrowing costs soared to 25-year highs slashing her fiscal “headroom” to a feeble £1 billion. SNP MP Stephen Flynn asked her the point blank question of whether she would rule out future spending cuts. Reeves refused:
“I’m not gonna write five years’ worth of budget in the first six months of a Labour government.”
Alarm bells will be ringing among ministers who are already fuming as Labour’s manifesto pledges evaporate. Reeves instead promised she wouldn’t break her ‘fiscal rules’. Notably no commitment to rule out further tax hikes either…
Sarah Pochin at Reform Scotland’s manifesto launch event: “I really wanted to come on in a Reform tartan burka, but apparently I wasn’t allowed… One day let’s do one of these events not live-streamed. We’ll do all the naughty stuff…”