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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
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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