"Presented with a choice between invest or decline, Reeves said, we chose investment. From 29bn for the NHS to school breakfast clubs, a slew of new transport links and 2,000 extra GPs, she was keen to underline the payoff from raising taxes and loosening her fiscal rules at last year's budget amid calls from some in her party to loosen the purse strings much further."
"Having set out a shopping list of investments to warm the hearts of Labour supporters, Reeves went on to make an unapologetic defence of her fiscal rules which are expected to force her to announce tax increases at a crunch budget in November. The chancellor insisted the gains she highlighted had been possible only because we remained steadfast in that commitment to economic stability."
Labour has prioritized investment over decline, directing funds such as 29bn for the NHS, school breakfast clubs, new transport links and 2,000 extra GPs. The party has backed industrial intervention, supporting firms after cyber-attacks and providing aid for steelmaking, shipbuilding and nuclear projects tied to employment. Fiscal rules are defended as essential to economic stability and aligned with Labour values, with a likely November budget to include tax increases. Internal calls to loosen fiscal constraints and reduce deference to global bond markets have been resisted in favour of maintaining credibility.
Read at www.theguardian.com
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