Category: Fiscal Policy

The ‘Brexit blame game’ is pretty desperate stuff

Rachel Reeves is getting her excuses in early ahead of next month’s Budget, which looks set to be a painful repeat of last October’s “one off”. The Chancellor has already blamed “external headwinds”, “Tory austerity” and “the ongoing impact of Liz Truss’s mini-Budget”. It is no surprise that she has now dropped the “B-word” too. … Continue reading The ‘Brexit blame game’ is pretty desperate stuff →

Raising income tax would be an act of desperation

The Chancellor is facing growing calls to ‘bite the bullet’ and raise the basic rate of income tax in the November Budget. This would carry huge economic and political risks, but Rachel Reeves may have left herself with no choice. It is already likely that the freeze on personal tax thresholds will be extended for … Continue reading Raising income tax would be an act of desperation →

The case for a late Budget

The Chancellor has confirmed that the date of the Autumn Budget will be Wednesday 26 November. This is relatively late, raising fears that a longer period of speculation and uncertainty will undermine confidence even further, but there are always trade-offs. I can think of five reasons why waiting might make sense. First, and perhaps most … Continue reading The case for a late Budget →