British Treasury chief Rachel Reeves is pledging not to return to an era of public spending cuts despite the dire state of the U.K.’s national finances.
Dozens of crime survivors heading to Washington D.C. for marchGet ready to travel this fall with these Insider DealsBritain's Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves attend the Labour Party Conference in Liverpool, England, Sunday Sept. 22, 2024. will pledge Monday not to return to an era of public spending cuts despite the dire state of the U.K.’s national finances.
Reeves plans to say “there will be no return to austerity” and stress that the government will invest to reverse declines in “growth, productivity and family incomes,” according to advance extracts released by the party. Reeves will lay out how the government hopes to fill some of the fiscal black hole without raising income tax, sales tax or corporation tax, all of which she has ruled out. Measures include a crackdown on tax avoiders and a drive to claw back money defrauded from contracts issued during the COVID-19 pandemic.
He’ll point to the government’s early actions, including ending a wave of public-sector strikes, and plans to take public ownership of the railways, set up a state-owned green energy firm, impose tougher rules on water companies that dump sewage and strengthen rights for workers and renters.
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