Editorial Wednesday 6 March 2024.
It’s a massive day in British politics today, as Chancellor Jeremy Hunt will deliver his Spring Budget at 12:30 – just after PMQs. Many of Wednesday’s papers speculate on what the Budget will include, as some measures appear to have been leaked.
Elsewhere, several of the papers lead on royal gossip.
Spring Budget 2024 – ‘return of austerity’
The left-leaning newspapers have reacted to the leaked measures with disappointment, with several suggesting the country will move back to austerity. There’s a feeling amongst the papers that the measures set to be introduced by Hunt are designed to cause further damage to the economy for a suspected future Labour government – with a general election expected in November.
public service cuts
General election in May?
‘Tory budget trap’
The Daily Mirror says the Budget will bring a “return of austerity.” The paper accuses Hunt of plotting more cuts to the NHS, schools and council services to pay for his Budget. The Guardian shares its similar disappointment, saying the chancellor is dyeing the “public service alarm”. An unnamed Tory insider tells the paper the changes would “require even more unrealistic public service cuts” after the election.
The i newspaper looks at the repercussions for the Labour Party, saying shadow ministers are fearing a “Tory budget trap” and that Labour will be forced to “announce cuts to spending within weeks of taking office” if it wins the next general election.
The FT says trimming National Insurance falls short of the reduction in income tax that “many Tory MPs had been pushing for”.
The right-leaning papers are hoping the upcoming tax cuts will help win over voters, as recent polling shows the Conservative Party in a dire situation. Some pro-Tory papers suggest the upcoming measures could see a general election called as early as May.
The Times says the chancellor is looking to win over voters with the expected 2p reduction in NI. The Daily Express has a similar take saying the chancellor’s “tax gamble” will put £900 in workers’ pockets.
The Mail notes the cut won’t benefit pensioners – a key demographic for the Tories – as they don’t pay NI anyway. It quotes a campaign group called Silver Voices, which says pensioners will be “bitterly disappointed” if they miss out again.
The Daily Telegraph claims the tax cuts have sparked election talks with insiders suggesting the general election could be called as early as May. The paper suggests the expected reduction in NI leaves space for income tax cuts in an election manifesto. But Tory insiders point to the PM’s previous comments suggesting the British public should expect a general election in the second half of the year.
