Backing bankers’ bonuses exposes Labour’s real priorities
Shadow chancellor Rachel Reeves with party leader Keir Starmer before making her keynote speech during the Labour Party Conference in Liverpool, October 9, 2023
LAST October shadow chancellor Rachel Reeves said that the Tories’ decision to lift the cap on bankers’ bonuses in the midst of a cost-of-living crisis “told us everything we need to know about this government.”
She was right. Likewise, her announcement that in government she will not reimpose the cap tells us all we need to know about the Labour Party today.
The speed of the U-turn is startling even by the standards of Keir Starmer’s leadership, which has already left the voting public utterly uncertain as to what, if anything, the party stands for any more.
Similar stories
Campaigners slam the Chancellor after Britain’s four biggest banks made a record £45.9bn in profits for 2024
Britain’s first woman Chancellor delivers the same old fudge, as Labour’s commitment to economic orthodoxy, seen throughout its history, always betrays working people, writes KEITH FLETT
In the first of two articles, ROBERT GRIFFITHS argues that despite a parliamentary majority, Labour’s timid Budget fails to seize a historic opportunity and lacks the ambition needed to address Britain’s deep social and economic crises
