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Rolling coverage of the latest economic and financial news Chancellor Rachel Reeves has said on Tuesday she hoped to get to the next budget without raising taxes. Reeves argued that the government now had enough fiscal headroom to withstand economic shocks, following last November’s budget. “We made a decision to significantly increase the headroom against our fiscal rules. “I believe that that was the right decision.” The Labour Party would still have an incentive to install a new leader before
Rolling coverage of the latest economic and financial news
Chancellor Rachel Reeves has said on Tuesday she hoped to get to the next budget without raising taxes.
Reeves argued that the government now had enough fiscal headroom to withstand economic shocks, following last November’s budget.
“We made a decision to significantly increase the headroom against our fiscal rules.
“I believe that that was the right decision.”
The Labour Party would still have an incentive to install a new leader before its annual conference in late September.
A leadership contest focused on tax rises or ideas for borrowing will likely sap business and consumer confidence and spook financial markets, dragging on growth in a similar way to the previous two budgets effectively stalled the economy.
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