Downing Street has insisted that Reeves’ ‘tax-rises-are-coming’ speech ten days ago still stands after U-turning on income tax rises. At the Lobby briefing of political journalists, Starmer’s spokesman said:
“She was very clear about the challenges the country faces and her priorities in addressing those challenges. All of that still stands.”
Meanwhile 10-year gilt yields surpassed this morning’s peak of 4.556% to 4.559% at noon. Prepare for a painful ‘smorgasbord’ of tax hikes this winter…



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