More lousy economic news between now and the Budget will not worry the Chancellor one bit
for almost everybody. It is a stark reminder that the cost of living crisis continues to bite and that household budgets are still being spread ever more thinly. It should also dispel any lingering hopes of a rapid fall in mortgage rates this year. While a further cut in September is still a possibility, inflation remaining above the 2 per cent target means any reductions will be made cautiously and slowly.
Reeves will seek to justify these by arguing that she needs to clear up the mess left by the Conservatives, including plugging a £22bn spending black hole she claims she discovered upon taking office.
Former Conservative ministers trying to defend their legacy appear to be shouting into the wind. “Voters know that Jeremy Hunt’s claims about a golden inheritance are nonsense”, said one Treasury source. Reeves has already won her first battle – and a crucial one at that. In the meantime, Reeves plans to base her approach more on how voters are feeling than simply what official statistics are showing. The new Treasury team believes its predecessors were too hasty in triumphantly heralding data showing that inflation was falling, given that millions of voters were yet to feel any real improvement.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Rachel Reeves signals she WILL give more than a million teachers and nurses above-inflation pay...Rachel Reeves warns there is 'a cost' to not giving public workers pay increase. The new Labour chancellor signalled she was considering giving more than a million teachers and nurses above-inflation pay rises of 5.5%.
Weiterlesen »
Rachel Reeves signals she WILL give more than a million teachers and nurses above-inflation pay...Rachel Reeves warns there is 'a cost' to not giving public workers pay increase. The new Labour chancellor signalled she was considering giving more than a million teachers and nurses above-inflation pay rises of 5.5%.
Weiterlesen »
Rachel Reeves signals she WILL give more than a million teachers and nurses above-inflation pay...Rachel Reeves warns there is 'a cost' to not giving public workers pay increase. The new Labour chancellor signalled she was considering giving more than a million teachers and nurses above-inflation pay rises of 5.5%.
Weiterlesen »
Jeremy Hunt accuses Chancellor Rachel Reeves of preparing the ground for major tax rises by...Rachel Reeves warns there is 'a cost' to not giving public workers pay increase. The new Labour chancellor signalled she was considering giving more than a million teachers and nurses above-inflation pay rises of 5.5%.
Weiterlesen »
Rachel Reeves’s realism is a good start – weary voters want more honestyWe don't like feeling that politicians are keeping the truth from us
Weiterlesen »
Rachel Reeves vows to lift kids out of poverty but won't scrap two-child capThe Chancellor told the BBC's Laura Kuenssberg Show on Sunday morning that lifting children out of poverty is 'in our DNA'.
Weiterlesen »