In the recent discussions regarding the budget, Reeves emphasized that despite potential real-term cuts to departmental budgets, overall government budgets will not face cuts in real terms.
Reeves stated that income tax, national insurance, and VAT won't increase, affirming the government's commitment to protect working people amidst rising costs from the budget.
Robinson raised concerns about the potential return to austerity if departments face real-term budget cuts, but Reeves reassured that such austerity measures would not reoccur.
While discussing taxation, Reeves clarified that there will be no wealth tax, reflecting the government's approach to handling financial challenges and economic policies.
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