Reeves insists she will remain in role despite ‘misogyny’ | UK | News
Rachel Reeves has spoken out against what she calls “misogyny” in public life, insisting she will still be chancellor in two years’ time and urging Labor MPs to get behind The Times’ tax-increasing budget reports.
He made clear in his report that he would not let his critics “beat me” and warned that Labor must show voters that it deserves a second term; He said this would only be possible if MPs remain united. Reeves also said the pre-budget leaks were “incredibly destabilizing.”
Addressing his Labor colleagues in the House of Commons, he said: “I’ll show it to the media, I’ll show it to the Conservatives. I won’t let them beat me. I’ll be there on Wednesday, I’ll be there next year and I’ll be back the year after that.”
Reeves also criticized “armchair” critics who questioned his suitability for the job. She added: “I don’t think even I realize the misogyny that still exists in public life.”
The Chancellor acknowledged some MPs would struggle with elements of a budget expected to include around £30 billion in tax increases, but urged them to consider the overall approach. He told them: “The budget involves choices. Choices are the things we do, and also the things we don’t do. I hope you like every measure, but you may not like it. There might be 99 percent or 95 percent you like, but there might be 1 or 5 percent you don’t. The budget is a package. It’s not a pick-and-mix.”
It also signaled that additional support could be provided to the NHS and measures to ease energy costs.
Treasury seeks support from major lenders
Separately, it was revealed that the Treasury asked banks to give public and visible support to the budget. The Times is familiar with talks that officials are asking lenders to highlight how the plans can support first-time buyers and small businesses. The request comes as Reeves is expected to refrain from increasing the bank tax on profits.
His attendance at a Labor Party meeting in Parliament underlined how politically at stake he was. Both he and Sir Keir Starmer have faced increasing pressure from ministers and supporters following Labour’s sharp decline in the polls.
Budget to include various tax measures
The budget will create a “smorgasbord” of tax rises designed to plug a £30bn deficit and meet Labor MPs’ demands for higher welfare spending. The measures are expected to include frozen income tax thresholds, changes to pension contribution rules, a charge on high-value homes and a pay-per-kilometre tax on electric vehicles. None of the changes will come into force before 2028.
Ministers are also set to announce a milkshake tax, ending the sugar tax exemption for pre-packaged milk drinks; This move is expected to increase by up to £100 million from 2027. Reeves is also expected to cut planned increases in public spending by £5bn for 2029-30 to help balance the books, but economists question whether this is achievable.
It will describe the package as a “Labor budget” with “Labor values” and confirm commitments to remove the two-child benefit cap, increase benefits in line with inflation and raise the national living wage.
Warnings from businessmen
Business groups have called on Reeves not to let political concerns overshadow growth. Rain Newton-Smith, president of the Confederation of British Industry, said Britain was at a “crossroads” and many companies feared the government was heading in the wrong direction.
He warned: “If we make the wrong choices on Wednesday, then we run the risk of being stuck in a stop-start economy where huge tax increases occur every year, even every fall and spring. This is not the path to growth. This is the path to certain decline.”
Newton-Smith also pressured Reeves to cut welfare spending and avoid “a thousand taxes”. He added: “Short-term policies will lead to long-term decline and this country cannot afford another decade of stagnation.”
