Thursday, October 24, 2024 No, Rachel Reeves is NOT 'fiddling the figures' Rachel Reeves, the chancellor, has confirmed that she will change her fiscal rules in next week's Budget. She will change the definition of debt, which will allow her to borrow more for productive investment, while requiring her to balance the books on day-to-day spending such as public-sector wages.    Jeremy Hunt, the shadow chancellor, quotes her as saying during the election that changing the debt rule would be "fiddling the figures". He is wrong: the change she is making is sensible.     It is the second rule that "will bite hardest", as she says in an article in the Financial Times: "Alongside tough decisions on spending and welfare, that means taxes will need to rise to ensure this rule is met. I will always protect working people when I make these choices, while taking a balanced approach."   Thus the manifesto promise that "Labour will not increase taxes on working people" has now been rewritten as "taxes will need to rise" while "protecting" working people.    Quite right too.  Written by John Rentoul Quiz question In which decade did the Liberals last have as many seats as the Lib Dems do now? Answer at the bottom of today's email Don't forget to complete your registration We've noticed that you still have not completed your registration to The Independent. Registration is a free and easy way to support our journalism. It allows us to better understand our readers and tailor your experience. By registering, you'll also gain access to a range of exclusive benefits, including: Limited access to Premium articles Access to The Independent app Access to more than 20 newsletters Commenting on independent.co.uk Unlock these benefits by completing your registration today.  COMPLETE YOUR REGISTRATION NOW COMPLETE YOUR REGISTRATION NOW Daily briefing Commonwealth leaders to defy Keir Starmer over slavery reparations Draft communique referring to slave trade adds to pressure on PM Disposable vapes set to be banned across the UK from next summer Children are illegally buying and 'becoming hooked on' the flavoured devices Labour MPs pile pressure on Starmer with new group demanding closer EU ties New All-Party Parliamentary Group on Europe chaired by Rosena Allin-Khan, Labour What else you need to know today George Osborne tells his podcast partner Ed Balls he has voted for Kemi Badenoch as Tory leader – he "can't get round" Robert Jenrick's promise to leave the European Convention on Human Rights: "For me, that is a red line"   I went into the lion's den and argued on The Sun's Never Mind the Ballots show that the real value of fuel duty should be maintained – it doesn't even count as a tax rise, because it was in the Tory government's plans I have written about the Trump campaign's complaint about Labour "interference" in the US election: of course it is a stunt, but Labour should not have provided the Republicans with the ammunition The Independent View Why Trump's latest outburst is a phoney war against Labour Politics explained Who attends the Commonwealth summit and what will they talk about? As the global balance of power shifts, there are some big names missing from this gathering – but Sean O'Grady says there is still much to discuss...   Read more MOST COMMENTED The problem with Ricky Gervais isn't that he's not woke, it's that he's not funny A look back at the week in Westminster A good week for Angela Rayner The short parliamentary week began on Monday with the first vote on the Employment Rights Bill. The debate in the Commons was opened with great brio by the deputy prime minister.   She gave a skilful performance, delighting Labour MPs with a rousing boast of having delivered the biggest improvement in workers' rights in a generation within 100 days (the bill's title was read out in the Commons last week, before the 100 days were up) – while at the same time announcing in a quieter voice two years of consultation on the most contentious measures.    Then on Wednesday she turned in a flawless theatrical performance as Keir Starmer's understudy in the long-running West End farce, Prime Minister's Questions. Her comic timing, confident repartee and sharp political attack left her straight-man foil, Oliver Dowden, for dust.    And the week began with Morgan McSweeney, the No 10 chief of staff, confirming that she will have a permanent place on the National Security Council.   Any notion in recent weeks that she has been sidelined is wide of the mark.  QUOTATION OF THE DAY "It's not enough to say to business, or to the markets or to the population, 'we're not the Tories' ... They haven't done enough yet to persuade us there really is a growth plan"   Ed Balls, former shadow chancellor, on Labour's policies  Quiz answer: 1920s – the Liberals had 158 seats in the 1923 election, dropping to 40 in 1924 and recovering to 59 in 1929; the Lib Dems have 72 now The Independent proudly partners with Refuge and the National Domestic Abuse Helpline: 0808 2000 247 Join the conversation or follow us Download the free Independent app Please do not reply directly to this email   You are currently registered to receive The Independent's View From Westminster newsletter.   To unsubscribe from The Independent's View From Westminster newsletter, or to manage your email preferences please click here.   This e-mail was sent by Independent Digital News and Media Ltd, 14-18 Finsbury Square, London EC2A 1AH. Registered in England and Wales with company number 07320345 Read our privacy policy and cookie policy