Rachel Reeves claims £66bn tax raid made UK ‘stronger’
Rachel Reeves has launched a defence over her two tax-heavy Budgets, claiming they enabled a “stronger fiscal buffer” and shifted the “tax system towards rewarding work”. In her first major speech since been ousted as Chancellor, Reeves said she made “difficult choices” that were “not without controversy” but defended them as helping end the UK’s [...]
Rachel Reeves has defended her two tax-heavy Budgets, stating they created a "stronger fiscal buffer" and moved the "tax system towards rewarding work." During her speech at Harvard University, Reeves claimed her tax increases, totaling £66 billion, were necessary to end the UK's "failed austerity experiment" and build a stronger fiscal buffer.
She defended her Budgets, which raised taxes on businesses, the wealthy, and savers, as being required to generate the revenue needed to invest in public services. Reeves increased her fiscal headroom to £24 billion in the 2025 Budget, allowing the current Chancellor, John Healey, to provide cost-of-living support in his Budget.
Reeves also called for Britain to rejoin the European Union, arguing that the 27-state bloc was the "single biggest opportunity" to raise income and strengthen Britain's security.
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