Britain’s Tory rulers set the weather for Labour’s fiscal policy
The baseline theory explains a lot about British politics
In her speech to the Labour Party conference in Liverpool on October 9th, Rachel Reeves, the shadow chancellor, pledged “iron discipline” on public spending. A few of the Labour Party’s preferred villains—such as private schools, large tech firms and energy companies—would pay a bit more tax if Ms Reeves were to move into 11 Downing Street after the next election. But the overall shape of public spending and taxation, at least on day-to-day spending, would be very similar to that planned by the Tory chancellor, Jeremy Hunt.
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This article appeared in the Britain section of the print edition under the headline “Base-jumping”
Britain October 14th 2023
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From the October 14th 2023 edition
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