POLL OF THE DAY: Do you trust Rachel Reeves to put 'more pounds in people's pockets'? VOTE NOW
POLL OF THE DAY: Do you trust Rachel Reeves to put 'more pounds in people's pockets' VOTE NOW
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Rachel Reeves will today pledge to put “more pounds in people’s pockets”, fix the NHS and grow the economy as she announces Labour’s first Budget.
Warning that there are tough decisions to come, the Chancellor will say there are “no short cuts” to driving economic growth and that Labour has promised to deliver other than to invest.
In her speech later today, Reeves is expected to say the “prize on offer” for Labour’s plans is “immense”, and will lay out new funding to cut hospital waiting lists, pave the way for more affordable homes and rebuild crumbling schools.
She has warned that the tax hikes and borrowing increases she is considering may not be enough to undo “14 years of damage” to the NHS, despite plans to pump billions of pounds into the health service.
A hike in the minimum wage to £12.21 an hour is among the measures included, and Labour has also promised not to increase the headline taxes on the pay cheques of “working people”: national insurance, VAT and income tax.
Despite warnings from ministers that the Budget will include tough decisions on tax rises and spending cuts, Reeves is expected to say: “My belief in Britain burns brighter than ever. And the prize on offer to today is immense.”
She will add: “More pounds in people’s pockets. An NHS that is there when you need it. An economy that is growing, creating wealth and opportunity for all. Because that is the only way to improve living standards.
“And the only way to drive economic growth is to invest, invest, invest. There are no short cuts. To deliver that investment we must restore economic stability.”
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