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Reeves Blames ‘black hole’ for tax U-turn
By Andrew Murray
Political reporter
Chancellor of the Exchequer Rachel Reeves leaves 11 Downing Street, London, with her ministerial red box before delivering her Budget
'These figures should be a wake-up call'
CHANCELLOR Rachel Reeves conceded she was wrong to pledge no big tax rises before the election as she defended her Budget proposals today.
Ms Reeves blamed the U-turn on the worse-than-expected state of the public finances she inherited but promised there was “no need to increase taxes further.”
On a post-Budget media tour, Ms Reeves claimed growth would be boosted by the new measures, allied to unspecified reforms to welfare and industrial strategy which are on their way.
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