Our ability as a country to face challenges head on makes us proud to be British. In difficult times we don’t cower away, our grit and determination brings us together to find a way through. This week Rachel Reeves’s budget did exactly that.
When we came into government we had no idea the scale of the challenge we were inheriting from the Conservatives. They had spent all the money and more, making unfunded promises to communities up and down the country with no way of paying for it. We opened the books and found a mammoth £22 billion black hole. But our Chancellor Rachel Reeves didn’t shrink away in the face of it, this Government had made a promise that we would restore economic stability to Britain, and that’s a promise she has kept.
Express readers will know, things have not been easy over the past decade. We’ve endured stagnant growth, rising prices on our homes, food and energy bills, our NHS on its knees, and seemingly no light at the end of the tunnel. Growing our economy from the inheritance we have been left is no mean feat. It means difficult choices, we have been clear about that, but we will not let it fall to our country’s working people and most vulnerable to pick up the bill for fixing the mess the Conservatives left.
Now we are on a new path to restore our economic stability, and fix the foundations of the country by fixing the NHS and rebuilding Britain, whilst protecting working people’s payslips.
We do this within our very clear fiscal rules because we will not play fast and loose with the public finances. Firstly, by not borrowing to pay for day to day spending, and secondly a strong investment rule that will have debt falling while allowing the step change this country desperately needs.
Our NHS has been pushed to the brink of collapse, with millions of people stuck on waiting lists with no way out. We cannot go on like this, and fixing the NHS is a key pillar of what we set out in the budget. Our investment will bring down waiting times with the latest technology while introducing key reforms to make the NHS fit for the future.
We’re also investing in our schools to recruit more teachers, and building more homes, better roads and other key infrastructure to get the country moving and economy growing once again.
But we know that finding the money to get our country’s finances back on track was not going to be easy. That’s why we will not tolerate any waste of taxpayers’ money and we have taken tough decisions on spending and welfare. We’ve cracked down on fraud, tax avoidance and waste, and will make sure every penny of taxpayer money is spent wisely. This government will make sure that those who make their home in Britain pay their taxes here too by abolishing the non-dom status.
We were always clear that we wouldn’t make working people or the most vulnerable pick up the bill for fixing the Tories’ mess.
We have protected the triple lock, which will see the State Pension go up by £475 next year. We have made sure working people don’t face higher taxes in their payslip, with no rise to VAT, income tax or employee National Insurance. We have protected motorists at the pump with the continued freeze on fuel duty, and small businesses will benefit from our increase on the Employment Allowance to £10,500.
Our focus is investment, investment, investment. It is the start of a new chapter to making Britain better off, with more pounds in people’s pockets, an NHS which is there when you need it and businesses creating wealth and opportunity.
This Budget wiped the slate clean after the Conservatives’ mismanagement of the country. That is our responsibility as the new Government to do. Now that we have set out these plans, we will stick to them, and we will deliver them. Our optimism for the future of this great country is huge, we will seize the opportunities and rebuild Britain.
