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Cuts are coming as crisis closes in on Labour
CUTS are coming as Labour ministers flounder in the face of mounting pressure from financial speculators.
With the price of government debt escalating, ministers are on course for renewed austerity even as they squirm to avoid using the term.
As the wriggle room Chancellor Rachel Reeves tried to give herself in last autumn’s Budget evaporates under the impact of rising interest payments, her deputy Darren Jones was forced to come to the Commons to defend the government’s record.
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Instead of responding to changed circumstances by adjusting policy, Reeves is using fiscal ‘rules’ as an excuse to force government departments to make even deeper cuts than she had already flagged, says CLAUDIA WEBBE
