Labour MP Rachel Reeves is on a make-or-break mission as she prepares to deliver what is being described as her "make-or-break" budget. In a private meeting with party members, Reeves emphasized that while not every measure in the budget may appeal to them, the overall package will be fair and progressive.
Reeves reminded her colleagues that politics is often about compromise, likening it to choosing between cola bottles and fruit salad. She acknowledged that some measures might not resonate with everyone but reassured them that they would likely approve of most aspects.
The Chancellor outlined key priorities in the budget, including reducing the cost of living, slashing NHS waiting lists, and cutting debt. She emphasized her commitment to keeping tax rises to a minimum and ensuring that businesses benefit from these measures, thereby increasing disposable income for individuals.
In preparation for Wednesday's budget, Reeves has downgraded economic growth forecasts for the next five years, despite the government touting growth as its top priority in the last election. However, she maintained that this was part of her "progressive" agenda to address pressing issues such as inflation and interest rates.
Reeves also highlighted several initiatives already implemented under her tenure, including increased national living wages, protections for triple lock, free childcare commitments, and expansion of free school meals. The Chancellor vowed to continue pushing forward with these measures and announced plans for further improvements.
The Office for Budget Responsibility is expected to conclude that the recent productivity slowdown was a result of Brexit and austerity measures, not specifically the current government's policies. This finding will add weight to Reeves' claims that her budget is focused on reversing economic instability left by previous administrations.
Reeves has expressed determination to stay in her role and thanked MPs for their support. The Chancellor will present her package of spending measures on Wednesday, with a significant focus on fiscal responsibility and addressing the cost of living crisis facing many families across the UK.
Reeves reminded her colleagues that politics is often about compromise, likening it to choosing between cola bottles and fruit salad. She acknowledged that some measures might not resonate with everyone but reassured them that they would likely approve of most aspects.
The Chancellor outlined key priorities in the budget, including reducing the cost of living, slashing NHS waiting lists, and cutting debt. She emphasized her commitment to keeping tax rises to a minimum and ensuring that businesses benefit from these measures, thereby increasing disposable income for individuals.
In preparation for Wednesday's budget, Reeves has downgraded economic growth forecasts for the next five years, despite the government touting growth as its top priority in the last election. However, she maintained that this was part of her "progressive" agenda to address pressing issues such as inflation and interest rates.
Reeves also highlighted several initiatives already implemented under her tenure, including increased national living wages, protections for triple lock, free childcare commitments, and expansion of free school meals. The Chancellor vowed to continue pushing forward with these measures and announced plans for further improvements.
The Office for Budget Responsibility is expected to conclude that the recent productivity slowdown was a result of Brexit and austerity measures, not specifically the current government's policies. This finding will add weight to Reeves' claims that her budget is focused on reversing economic instability left by previous administrations.
Reeves has expressed determination to stay in her role and thanked MPs for their support. The Chancellor will present her package of spending measures on Wednesday, with a significant focus on fiscal responsibility and addressing the cost of living crisis facing many families across the UK.