Her Budget of "broken promises" hammered families and battered businesses with a series of punishing measures that will fund billions more for the NHS.
They face even more pain as Labour's high-tax, high-spend, big-borrowing plan is expected to push up both mortgage costs and inflation. Yet despite yesterday's harsh measures, economic growth is expected to stay sluggish for four years after the party pledged to make boosting the economy a priority.
Furious Tories accused the Chancellor of misleading the public with an election vow to rule out surprise tax rises.
Axed
While former Prime Minister Rishi Sunak declared: "It's a classic Labour agenda higher taxes, higher borrowing, no plan for growth and working people paying the price."
Ms Reeves axed winter fuel cash for 10 million pensioners to help plug a supposed £22billion black hole, but analysis by the independent Office for Budget Responsibility did not back up the claim. Mr Sunak called the figure "fictional", adding it was "deeply, deeply disappointing" that she had tried to politicise the OBR.
The Chancellor also changed debt rules, to allow her to borrow up to £74billion in the coming years for investment in infrastructure - prompting Mr Sunak to accuse her of "fiddling the figures". He added: "She specifically told the British people she wouldn't change the debt target because, and I quote, she said, 'I'm not going to fiddle the figures to get better results'.
"But that is exactly what she has done. She has gone back on her word and fiddled the figures so that she can borrow billions more. Broken promise after broken promise, and working people will pay the price."
During the election campaign, PM Sir Keir Starmer claimed that Labour's plans were "fully costed, fully funded", adding: "They do not involve tax rises over and above the ones that we've set out."
This story is from the October 31, 2024 edition of Daily Express.
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This story is from the October 31, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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