• Latest
  • Trending
  • All

A change-making Budget and a moment of jeopardy

October 31, 2024

Temporary disposable barbecue ban over wildfire risk

August 15, 2026

Why tech bosses keep sharing their manifestos about AI

August 15, 2026

European Athletics Championships 2026: Keely Hodgkinson takes 800m silver behind Swiss rival Audrey Werro

August 15, 2026

Electric vehicle sales targets could be cut after pressure from car makers

August 14, 2026

Business Daily – Taking Stock: The cost of heatwaves

August 14, 2026

Major oil slick washes up on Iran coast after Hormuz ship strike

August 14, 2026

Rare breeding bat found roosting near South Yorkshire reservoir

August 14, 2026

Killer who will not say where wife's body is to stay in prison

August 14, 2026

Amy Hunt: Can getting glammed up really improve your performance?

August 14, 2026

Arrests and road closed over suspected abduction in East Lothian

August 14, 2026

Tân mawr ger Llanymddyfri yn gorfodi nifer o bobl i adael eu tai

August 14, 2026

Ardoyne: Police defend response to north Belfast incidents

August 14, 2026
News
  • Login
  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More
Saturday, August 15, 2026
No Result
View All Result

NEWS

3 °c
London
8 ° Wed
9 ° Thu
11 ° Fri
13 ° Sat
  • Home
  • Video
  • World
    • All
    • Africa
    • Asia
    • Australia
    • Europe
    • Latin America
    • Middle East
    • US & Canada

    Australia v Bangladesh: Steve Smith benefits from reprieve but tourists dominate day one of first Test

    Builders unearth €9m gold loot sealed in walls of Belgian property

    Chad’s Succès Masra: Former prime minister given state pardon

    Japan: Record rain in Chiba kills eight as thousands stranded at Narita Airport

    Engine parts smashed Ryanair window that man’s head was sucked out of, report says

    Stolen Matisse artworks recovered by police in Brazil

    Israeli settlers besieging Palestinian families in West Bank village

    Concern grows over conditions on USS Abraham Lincoln

    Australian army whistleblower released on parole after more than two years in jail

  • UK
    • All
    • England
    • N. Ireland
    • Politics
    • Scotland
    • Wales

    Temporary disposable barbecue ban over wildfire risk

    European Athletics Championships 2026: Keely Hodgkinson takes 800m silver behind Swiss rival Audrey Werro

    Killer who will not say where wife's body is to stay in prison

    Arrests and road closed over suspected abduction in East Lothian

    Tân mawr ger Llanymddyfri yn gorfodi nifer o bobl i adael eu tai

    Ardoyne: Police defend response to north Belfast incidents

    'Welcome to one of the most bizarre by-elections in recent history'

    European Athletics Championships 2026: Amy Hunt wins 200m gold as Dina Asher-Smith claims bronze

    'Releasing my son's killer early would be a slap in the face'

  • Business
    • All
    • Companies
    • Connected World
    • Economy
    • Entrepreneurship
    • Global Trade
    • Technology of Business

    Electric vehicle sales targets could be cut after pressure from car makers

    Business Daily – Taking Stock: The cost of heatwaves

    US says dozens of countries helped China dodge Trump’s tariffs

    RBSI announces around 50 job cuts in Jersey

    UK economy grows but experts warn of challenging months ahead

    Twitch users can now block Amazon from using their content to train AI

    Burnham warned Iran war could hit UK growth next year

    First wave of ‘pounds for pylons’ energy discount sites revealed

    Trump Media reports $238m loss as crypto falls

  • Tech
  • Entertainment & Arts

    Meghan hits red carpet at Power of Women in Hollywood

    Margot Robbie unable to speak at Saltburn premiere

    Barbra Streisand: Siri can now pronounce my name

    Wes Anderson’s The Grand Budapest Hotel inspires cinema’s look

    Taylor Swift/ Travis Kelce romance reaches White House

    The Killers booed at Georgia concert after inviting Russian fan on stage

    Watch: Memorable moments from Parkinson's star-studded show

    Tom Jones: Neighbour surprised to find singer in flat below

    Black Country Folk Festival showcases local musicians

    Watch: Australians set new world record with Tina Turner dance

  • Science
  • Health
  • In Pictures
  • Reality Check
  • Have your say
  • More
    • Newsbeat
    • Long Reads

NEWS

No Result
View All Result
Home UK Politics

A change-making Budget and a moment of jeopardy

October 31, 2024
in Politics
4 min read
250 3
0
492
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


This was a huge, change-making budget.

Don’t let anyone tell you there isn’t much difference between the main parties at Westminster.

This was a Budget with Labour’s instincts and worldview stamped throughout it.

There are the tax rises visible from near-earth orbit, the self imposed borrowing rules shredded and re-written – to allow more borrowing – and big wads of spending for the NHS, just for starters.

I lost track during the election campaign of how often Labour folk insisted they had “no plans” to put up taxes beyond a relatively narrow band of those they said would rise.

Looked at now you don’t have to be wildly uncharitable to conclude that was comprehensive baloney.

Labour, psychologically scarred by losing far more elections than they win, tend to try to hug the Conservatives close when it comes to tax and spending plans before elections where they think they can beat them, fearing anything else will spook swing voters and cost them the contest.

And, pretty much, that is what Labour did back in the summer.

No such caution now.

The books were worse than we thought is Labour’s mitigating plea, garnished with a we-won’t-do-it-again insistence from the chancellor in my interview with her.

“This is not the sort of Budget we would want to repeat,” Rachel Reeves told me.

For the chancellor, we now enter the valley of maximum scrutiny and jeopardy for her prospectus.

Journalists, policy experts, industry, trade unions, you as readers have a chance to properly squirrel away at the detail and ask awkward questions.

You will see the chancellor on BBC television and hear her on the radio.

Senior figures insist they want to embrace this scrutiny.

They point out she didn’t go on TV and radio shows last Sunday, before the Budget, as has become recent infuriating tradition – where journalists ask pertinent questions about the content of the Budget and are repeatedly told to wait until Wednesday.

She will instead be appearing this Sunday, alongside the new Conservative leader elected on Saturday, no doubt.

So where might that scrutiny come? All the big stuff, for sure – the tax rises, the borrowing, the spending.

But I always like to keep an eye on the rows that may appear smaller but have the potential to blow up in a government’s face.

There is already real anger among many farmers about changes to inheritance tax which they fear will mean lots of farming families will no longer be able to pass on their life’s work and business to the next generation.

And a couple of big picture, longer-term thoughts to ponder.

This is a government with a central mission of helping to drive up economic growth.

And yet the projections for growth appear stubbornly anaemic, as our economics editor, Faisal Islam, writes.

And there is a similar observation from the Institute for Fiscal Studies, who have crunched the numbers on the forecasts for the money we are each likely to have in our pockets in the coming years, once bills are sorted – per capita disposable income, to use the language of economists.

They conclude its rate of growth, while up a smidgen on where it’s been in recent years, is still pretty piffling.

The government will hope the forecasts are wrong – and they can be.

But, as I have written before, what seems to be a huge contributor to the anti-politics mood as well as wild political volatility is that unshiftable financial reality for many: the brutal truth that things haven’t got much better, if at all better, for ages and ages and ages.

And, in the end, the persistence of that trend, or its marked end, will matter more to millions of people and the likely eventual fate of this government than plenty of the other Budget numbers being picked over right now.



Source link

Tags: budgetchangemakingjeopardymoment

Related Posts

Temporary disposable barbecue ban over wildfire risk

August 15, 2026
0

"We have a fire and rescue service across the country that isn't properly set up to deal with these...

'Welcome to one of the most bizarre by-elections in recent history'

August 14, 2026
0

Votes are being counted in the Clacton by-election, with results expected in the early hours of Friday. Source...

Ann Widdecombe’s family and friends gather for her funeral

August 13, 2026
0

Police officers and sniffer dogs were in the grounds of the abbey ahead of the service, which lasted about...

  • Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

    677 shares
    Share 271 Tweet 169
  • Belgian footballer arrested in cocaine investigation

    533 shares
    Share 213 Tweet 133
  • Next to raise prices to help pay for rising wage costs

    532 shares
    Share 213 Tweet 133
  • South Wales Police officers injured, one arrested

    525 shares
    Share 210 Tweet 131
  • Charities to get £15m fund to save surplus farm food

    516 shares
    Share 206 Tweet 129
  • Trending
  • Comments
  • Latest

Lee McGregor: Scot seeks world title in 2025 & Nathaniel Collins bout

January 16, 2025

Belgian footballer arrested in cocaine investigation

January 27, 2025

Next to raise prices to help pay for rising wage costs

January 7, 2025

World Cup 2022: TikTok brings football fever to millions of fans

0

UK economy will get worse before it gets better, warns chancellor

0

One of Central America’s most active volcanoes erupts again

0

Temporary disposable barbecue ban over wildfire risk

August 15, 2026

Why tech bosses keep sharing their manifestos about AI

August 15, 2026

European Athletics Championships 2026: Keely Hodgkinson takes 800m silver behind Swiss rival Audrey Werro

August 15, 2026

Categories

Politics

Temporary disposable barbecue ban over wildfire risk

August 15, 2026
0

"We have a fire and rescue service across the country that isn't properly set up to deal with these...

Read more

Why tech bosses keep sharing their manifestos about AI

August 15, 2026
News

© 2023 GODJ - NEWS CORP - news.godj.com.

Explore NEWS.GODJ.COM

  • Home
  • News
  • Sports
  • Worklife
  • Travel
  • Reel
  • Future
  • More

Follow Us

  • Home Main
  • Video
  • World
  • Top News
  • Business
  • Sport
  • Tech
  • UK
  • In Pictures
  • Health
  • Reality Check
  • Science
  • Entertainment & Arts
  • Login

© 2023 GODJ - NEWS CORP - news.godj.com.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.