We are now getting used to the new Government and while the first few weeks of Keir Starmer’s premiership have not been too dramatic, there has been swift action on some of their key policy objectives already, with some significant measures outlined in the King’s Speech.
What is conspicuous in its absence is any comment on tax policy. While the Labour manifesto was very clear about which taxes they were not going to change, it was almost totally silent on which taxes they are going to change and we assume that they will have to change some.
The papers are this morning reporting that Rachael Reeves will next week provide a ‘state of the nation’ address on the UKs finances and that she will announce (perhaps unsurprisingly) that “it’s worse than we expected”.
