{"id":80962,"date":"2025-03-20T07:56:59","date_gmt":"2025-03-20T07:56:59","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=80962"},"modified":"2025-03-20T07:56:59","modified_gmt":"2025-03-20T07:56:59","slug":"reeves-is-going-to-do-austerity-next-week","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2025\/03\/20\/reeves-is-going-to-do-austerity-next-week\/","title":{"rendered":"Reeves is going to do austerity next week"},"content":{"rendered":"

According to the FT<\/a>:<\/p>\n

Chancellor Rachel Reeves will not raise taxes in next week\u2019s Spring Statement, Labour officials said, as they tried to dismiss Conservative claims that she is preparing an \u201cemergency Budget\u201d.<\/p>\n

Reeves will instead turn to public spending reductions \u2014 a combination of welfare cuts and savings to the planned budgets of Whitehall departments \u2014 to rebuild adequate headroom against her fiscal rules.<\/p><\/blockquote>\n

So, the choice is to let the best off enjoy their wealth and to punish all those who rely on the state.<\/p>\n

It is very hard to work out who Labour hates more, the state or those who need it - which it would appear they do not think that they do.<\/p>\n

This is not necessary, of course. As I keep saying, we could tax those with wealth more<\/a>. It really would not be hard.<\/p>\n

Austerity has been chosen instead.<\/p>\n

Reeves will, of course, no doubt deny that she has chosen austerity, but look for definitions of it, and you will find a strong consensus around it being measures aimed at reducing public sector debt and budget deficits through spending cuts, tax increases, or a combination of both. That is what she is going to do. Austerity it will be then, and all because of a fixation with a fiscal rule that is utterly inconsequential.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to the FT: Chancellor Rachel Reeves will not raise taxes in next week\u2019s Spring Statement, Labour officials said, as they tried to dismiss Conservative
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