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Tuesday, 1 July 2025
Economy

Labour’s growth strategy comes down to difficult decisions on tax

Labour’s growth strategy comes down to difficult decisions on tax

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Good morning. Today is a review of comprehensive expenditure, which will set departmental budget and priorities for the next few years. We will have a lot in the days, weeks, months and years to come tomorrow and the coming days. Although most of the material has already lagged behind, I do not like to write about politics of anything that has not happened yet.

For now, I am looking out some thoughts on two things, and one thing I will not do.

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Cash splatter

Are these correct priorities, economic and politically?

Labor has greatly increased the amount that UK spends on infrastructure. it is Promised £ 113bn of additional capital expenditure On Parliament. It is welcome, but not all “infrastructure” is made equal. Nuclear power, a tried form of clean energy, which the government has already announced that it will come back, is a infrastructure. But there is also the third runway in Heathro, whose development is highly unrelated in my view and which cannot be harmonized with the UK climate goals.

So I will look not only numbers but also places and projects.

Does these day-to-day settlements seem to be saved, and if not, when do they suggest the moment of labor of labor?

The review of today’s expenses essentially determines the decisions that spend large pictures of the government in the final stages of Parliament. This is one of the most resulting things that the government will do politically. But as the gradual principal ministers have learned since 2015, it is one more to say what you will spend (or do not spend).

So one thing I am seeing is that where and when can the cut into some parts of the state cut, and how soon the labor may have to retreat. (After retreating on the winter fuel allowance, I am not sure that this government is really going to be able to exclude it on any spending cut, although “take it out” what the current needs to do on welfare improvement is a downing street scene.)

But eventually it depends on how to get out of your hole on labor tax

Tax is eventually a case for the budget, not spending a review. But a large part of labor development strategy – and the effectiveness of infrastructure expenses that we are going to declare later today – did Labor deal with their difficulties on tax and damage or hurt our plans for infrastructure and development.

Try it now

I saw Ballet dancerSet in new movie John Vik The universe, and it was almost what you want from one of these films: unnecessarily Arti Gunfites, and a barely futile plot. Obviously, single best sequence striking beautiful overhead shot has a straight lift John Vik 4But it still looked cute. Danny Leh’s Right It was a lack of fickleness of earlier entries, but it is worth seeing if you enjoyed earlier films: as much as possible.

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