Tuesday, October 15, 2024 |
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Rachel Reeves gets it right |
The Budget is taking shape, with a rise in employers' national insurance contributions being the big tax increase. The Conservatives say it would break a manifesto promise, but Labour's manifesto was ambiguous and this is not tax directly on "working people" defined as "employees". The Tory attack is blunted because (a) the pledge was ambiguous, (b) voters expected taxes to rise anyway, and (c) it is the right thing to do. Mervyn King, Reeves's former boss at the Bank of England, tells The Independent that Labour should reverse Jeremy Hunt's last unfunded cut in employees' national insurance contributions. I agree – it was an irresponsible measure designed as an election trap. Labour refused to fall into it, but can reverse the cut by an increase in employers' contributions: the fiscal and economic effects are roughly the same. Join The Independent's debate on the Budget here. |
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| Prime minister sets out his position ahead of the Commonwealth Heads of Government meeting this month |
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| Johnson claimed Cameron threatened to 'f***' him up forever' if he supported Leave |
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| The new trial aims to gather evidence of the effects of the drug tirzepatide – sold under brand name Mounjaro |
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What else you need to know today |
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Can Reform UK ever prove themselves to be serious politicians? |
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As the 'people's party' is caught offering tours of the Houses of Parliament for cash, Sean O'Grady asks a QTWTAIN... Read more |
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Tomorrow inside the Westminster bubble |
What to look out for on Wednesday |
Inflation figure for September to be published at 7am. Prime Minister's Questions at noon follows science questions starting at 11.30am. The Liberal Democrats have their day in the parliamentary timetable after urgent questions and ministerial statements. "How can Keir Starmer ensure the centre of government works for the country?" Online and in-person event, Institute for Government, featuring Hannah White, Jill Rutter, Henry Newman, Tom Baldwin and Theo Bertram, 5pm. |
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"One day, you will look back on your time as chancellor and you will want to remember the far-reaching changes you made – not the political compromises that others will urge on you" Mervyn King to Rachel Reeves |
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