Rachel Reeves to insist Brits must stomach tax rises of up to £35billion in Budget in order to make country better
RACHEL Reeves will today insist the prize of a better Britain is immense — but the country will have to stomach tax rises of up to £35billion.
The Chancellor will say there is no short-cut to economic stability while plotting to put “more pounds in pockets”.
Money will be ploughed into the NHS, rebuilding schools and building more affordable homes, as she vows to “invest, invest, invest” to drive growth in her Budget plans.
But she faces ex-PM Rishi Sunak, who has called out the Government for deception and broken promises, in his last major outing as Tory leader.
He will criticise her as she is set to change the fiscal rules, allowing for a borrowing spree of up to £50billion.
Ms Reeves will insist workers’ pay will be protected as she will not raise income tax, national insurance and VAT.
But there is speculation that employer national insurance contributions and capital gains tax will go up in the Budget.
Ms Reeves will say: “The prize on offer today is immense.
“And the only way to drive economic growth is to invest, invest, invest.”
Mr Sunak said: “Ms Reeves vowed she wouldn’t change the debt target as that would be ‘fiddling the figures’.
“We know the promises are worthless.”