Britain | Filling the fiscal hole

What taxes might Labour raise?

Growth alone will not fix Britain’s public finances

Britain's Shadow Chancellor of the Exchequer and Labour MP Rachel Reeves.
Photograph: Reuters

To win big in general elections, the Labour Party needs to convince fretful voters that it can be trusted with the economy. Clement Attlee sold post-war nationalisations with the mien of a staid bank manager. Ahead of the party’s landslide win in 1997, New Labour pledged to copy years of restrictive Tory spending targets. Rachel Reeves, the shadow chancellor, has adopted a similar tactic ahead of Labour’s widely expected election win on July 4th.

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This article appeared in the Britain section of the print edition under the headline “Fiscal hole: needs filling”

From the June 22nd 2024 edition

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