'My decisions at budget don't come for free,' warns Reeves
Rachel Reeves has said she is determined to "defy" forecasts that suggest she will face a multibillion-pound black hole in next month's budget, but has indicated there are some tough choices on the way.
Writing in The Guardian, the chancellor argued the "foundations of Britain's economy remain strong" - and rejected claims the country is in a permanent state of decline.
Reports have suggested the Office for Budget Responsibility is expected to downgrade its productivity growth forecast by about 0.3 percentage points.
That means the Treasury will take in less tax than expected over the coming years - and this could leave a gap of up to £40bn in the country's finances.
Ms Reeves wrote she would not "pre-empt" these forecasts, and her job "is not to relitigate the past or let past mistakes determine our future".
By gum she's useless. A chap is bound to ask if her determination to "defy" forecasts is similar to Ed Miliband's determination to defy reality.
They may as well paint their faces and dance around the stone circle on Stanton Moor at midnight, chanting defiance at the heavens. At least that would be amusing and I could go and watch.
5 comments:
"...and her job "is not to relitigate the past or let past mistakes determine our future".
Although blaming the Conservatives or Brexit is still OK for making excuses.
It isn't that I am not confident of Ms Reeves financial acumen in presenting the next budget, but I keep returning to the value of East African Gumbo beans against the £. Cynical? Moi?
Penseivat
DJ - and past mistakes should determine our future or we'll never learn. Blaming Brexit seems to be aimed at eroding support for Farage and Reform as well as being OK for excuses.
Penseivat - a garage full of tinned food might be a sound investment too.
@AKH
But under new budgetary taxes there will be tin-opener wealth tax. Ordinary openers will be taxed at £100 per year and electric tin openers will carry a green surtax of another £500 per year.
Next year there will be an additional 'air that you breathe' tax, a 'window' tax and a 'clean-shaven' tax. It would have been a 'beard' tax but that might not have gone down well with a certain demographic.
DJ - maybe there will be a door tax too, encouraging people to brick up doors and inadvertently preparing for the next lockdown.
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