TAX
The Chancellor has also spelled out that the Spring Statement won’t be the occasion to raise or lower taxes.
She vowed to have only one major fiscal event per year so any such decisions will have to be put back until the Autumn.
Speaking at the weekend, Ms Reeves said: “We did have to put up some taxes on businesses and the wealthiest in the country in the Budget.
“We will not be doing that in the Spring Statement next week.”
WELFARE
Rachel Reeves and Welfare Secretary Liz Kendall delivered £5billion of cuts to the benefits bill last week.
This will make up some of the £10billion wiped out from the Chancellor’s headroom.
The impact of the cuts will be revealed today when an assessment is published – likely to spark fury in Labour ranks.
Labour MPs are lobbying the government so individuals don’t lose several thousand pounds as part of the cuts.
The health and disability bill which sits at £65billion is expected to rocket to £100billion over the next four years.
