Rachel Reeves will unveil a £35 billion tax bomb today, in what critics dubbed ‘the biggest heist in modern political history.’

 

In one of the most consequential Budgets for years, the Chancellor will set Britain on a course of high tax, high spending and high borrowing in a gamble designed to kickstart growth.

In remarks released last night, Ms Reeves said: ‘The only way to drive economic growth is to invest, invest, invest.

‘There are no shortcuts. To deliver that investment we must restore economic stability.’

Ms Reeves, who will become the first woman in history to deliver a Budget, will confirm a loosening of the government’s fiscal rules which will enable her to borrow up to £50 billion to spend on infrastructure projects and growth sectors like green energy.

 

Tory leadership contender Robert Jenrick said: ‘This Budget completes the biggest heist in modern political history. The Labour Party won power by lying to the British public about their plan to hike taxes.

‘Working people are going to suffer and our economic recovery will take a huge hit. No wonder the public don’t trust politicians.’

 

Rishi Sunak, who will respond to the Budget on Wednesday in one of his last acts as Tory leader, said the expected rise in NI would be a clear breach of Labour’s manifesto, which pledged not to increase income tax, national Insurance or VAT.

 

 

Source: Mail Online

 

History show us that this type of government involvement never works.

If they were going to use the money raised positively maybe it would be good, but they won't, they have shown that already

 

Labour will honour a pledge of £11.6bn in overseas aid for the climate crisis, the energy secretary said, 

 

Prime Minister Sir Keir Starmer has pledged £84m for projects in Africa and the Middle East to stop illegal migration "at source". (like that will work)

 

Spend the money in this country

Exactly the wrong thing to do.