Things really are grim, just like the experts said, only Labour claim they had no idea how grim
During the UK’s underwhelming general election campaign, fiscal experts warned that none of the parties were being honest about the scale of the state’s finances, making unrealistic promises of spending increases without tax hikes. Labour, trying to avoid their stereotypical tax-raising image, committed not to increase any taxes aside from the few they specified in their manifesto.
Now in government, cue the pearl-clutching. Things really are grim, just like the experts said, only Labour claim they had no idea how grim. New chancellor Rachel Reeves declared things are far worse than previously thought, and she has to raise £22 billion from somewhere. She’s announced sweeping spending cuts, and is rolling the pitch for — you guessed it — tax hikes, with taxes on assets looking most likely.
To be fair, some of the information was not known before the election, but Reeves has made political choices, like scrapping winter fuel payments for pensioners who earn enough not to qualify for benefits; and canceling infrastructure projects, choosing instead to spend nearly £10 billion on above-inflation public sector pay raises; and over £8 billion on a state-operated clean energy provider. Labour are learning quickly that to govern is to choose, and, true to center-left form, they have made their choice of state over enterprise.
The proportion of Americans who have confidence in the Secret Service’s ability to protect presidential candidates from violence. The fabled institution’s credibility has been badly shaken since Trump’s shooting. The director resigned, but questions remain about the worst Secret Service failing since the 1981 attempted assassination of Ronald Reagan.
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