Cliff Notes – Emma Reynolds tells Sky News she is ‘not ruling out’ tax rises
- Treasury Minister Emma Reynolds has indicated that tax rises are a possibility in the autumn budget, emphasising the importance of fiscal stability amid global economic uncertainties.
- Shadow Chancellor Sir Mel Stride has accused the government of obfuscating the issue, suggesting that tax hikes are imminent.
- Chancellor Rachel Reeves asserts that existing fiscal rules limit government spending to tax revenue, leaving little room for manoeuvre if economic forecasts worsen.
Treasury minister Emma Reynolds tells Sky News she is ‘not ruling out’ tax rises in the autumn | UK Politics News
A Treasury minister has refused to rule out tax rises at the budget in the autumn, amid concerns that any global economic instability could mean the government will not have enough money to fund its spending plans.
Speaking to Emma Reynolds defended how the Economy was being handled, but would not say if more revenue might be needed from taxation.
Asked repeatedly if she was ruling out tax rises, the minister said: “I’m not ruling it in and I’m not ruling it out.
“We have got £9bn of fiscal headroom [money left in the budget], which is significantly more than the Tories had when they were in power, at the end of their time in power.
“We’ve got a growing economy, and we, as the chancellor did say in the [Commons] chamber, the budget in the autumn last year was a once-in-a-generation budget where we had to do some very tough things, and we’re not going to have another budget like that in the future.”
Responding directly to the minister’s interview, shadow chancellor Sir Mel Stride told Sky News: “The mask has slipped. Today’s spending review was nothing more than an obfuscation.
“Now we know – tax rises are coming.”