Rachel Reeves insists Budget wipes slate clean for future finances
- Chancellor Rachel Reeves defended recent tax hikes meant to address a significant fiscal shortfall.
- The measures are controversial and have been criticized by business leaders for potentially leading to job losses and price increases.
- Reeves claimed the Budget has set the stage for future financial stability without the need for more borrowing or taxation.
In a recent address to business leaders at the CBI's annual conference, Chancellor Rachel Reeves emphasized the significance of the latest Budget, asserting that it had effectively cleared previous fiscal challenges and established a stable path forward. Despite facing criticism for implementing tax increases aimed at addressing a £22 billion shortfall in public finances, Reeves defended her decisions as necessary to prevent the return of economic instability. She recognized the struggles faced by businesses but urged that reforms in public service efficiency were imperative. The Chancellor concluded that her administration would not resort to further borrowing or tax hikes, ensuring a fresh start for the country's fiscal policies in the coming years.