View from Westminster
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What does Labour do next? |
Jeremy Hunt used today's Budget to place a deadly trap for Labour, stealing one of its key policies and setting the party up to inherit tens of billions of pounds of post-election spending cuts and tax hikes.
Rachel Reeves, who had promised the money raised by scrapping the non-dom tax loophole would help her get the NHS back on its feet, among other things, will now have to go back to the drawing board.
The chancellor has already squandered the cash on a cynical pre-election giveaway which will do little to overturn the Tories' 20-point deficit in the polls.
And, asked repeatedly how Labour would respond to the moves and fund its ambitious programme, a spokesman said the party would answer "in our own time".
The Resolution Foundation has said the next chancellor will inherit £19bn of tax rises and £19bn of spending cuts. And Paul Johnson, director of the Institute for Fiscal Studies, said: "Whoever is chancellor… after the election - might wish they'd chosen a different line of work."
It's going to be a long and brutal election campaign...
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Who resigned as a government minister over the Sarah Keays affair? |
Answer at the bottom of today's email |
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| Chancellor hands out £10.4bn tax giveaway, half of which experts say will go to richest fifth of households |
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| With Rishi Sunak's party lagging Labour by 20 points, Greg Hands, trade minister, said the contest will be 'later this year' |
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| Michelle Donelan was forced to apologise to two academics she accused of extremism |
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What else you need to know today |
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What are the chances of a May general election? |
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Sean O'Grady argues that while Rishi Sunak might be hoping for a post-Budget boost, voters are running out of patience... Read more |
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Tomorrow inside the Westminster bubble |
Our political commentator Andrew Grice on what to look out for |
Almost as big an event as the Budget itself is the Institute for Fiscal Studies news conference at 10.30am on the day after. If there are any slow-burning surprises in the chancellor's plans, this is where they usually take shape. Richard Hughes, the chair of the Office for Budget Responsibility, will also be speaking, at the Resolution Foundation.
The Commons sits from 9.30am with questions to Kemi Badenoch and her business and trade ministerial team. Penny Mordaunt, Badenoch's rival as next Conservative leader, then lists next week's business in the Commons.
This is followed by the continuation of the debate on the Budget.
Later, Joe Biden, the US president delivers his final State of the Union address before November's election.
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"I thank the Chancellor for his courtesy in staying in the Chamber, unlike some of his colleagues, to listen to the words of the third party. That does not happen all the time, but it is very good practice for those who might well be in the third party after the next election."
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Quiz answer: Cecil Parkinson, Margaret Thatcher's trade secretary |
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