Labour ministers beg Reeves to unleash public spending
Rachel Reeves is facing a revolt from ministers who are demanding she tear up her fiscal rules to allow more public spending.
Ministers are “begging” the Chancellor for additional funding to fulfil manifesto commitments in their departments, warning “austerity-lite” politics will drive voters into the arms of Nigel Farage, The Telegraph understands.
Ms Reeves needs to fill a £30bn black hole in the public finances at her Budget in November, when she is expected to announce tax rises and spending cuts to satisfy Britain’s creditors.
This doesn't help. The blockheads have made so much of black holes that even a few Labour voters must finally realise there is a limit to spending other people's money.
5 comments:
Tax and spend (other peoples' money). It's what Socialists do because their dedication to a future Utopia is greater than common sense.
It's reminiscent of the fall of Ramsay Mac's Labour government. His cabinet agree to expenditure cuts in general. But in particular every minister refused to have cuts in his little domain. Ramsay Mac treated it as betrayal and formed a National Government instead. For ever after the traitors accused him of being the traitor. Ain't socialists lovely people?
DJ - they don't seem to connect things up merely because they really are connected. If it doesn't suit them to connect government spending with unsustainable borrowing they don't make the connection. "I want" is more real than an economic reality which doesn't immediately affect them.
dearieme - yes, lovely people. They won't do the decent thing and face the real world together even though togetherness is supposedly the foundation of their ethos.
The Bond Markets will correct them - eventually. And it will all be the fault of ... someone else.
decnine - probably the fault of Liz Truss.
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