Reeves choice are clear but unpalatable.
- Raise one of the Big Three taxes that bring in the bulk of Governmrmt income (VAT, NI or income tax)
Or
- Make cuts to the NHS and welfare system as they make up 49% of expenditure. Salami slicing everything else won't touch the sides especially when debt interest costs more than the entire schools budget. I get why Reeves wants to bring it down and she’s pinning her hopes on productivity - every western Government would prefer to inflate away the debt.
However, she's doing it with one hand tied behind her back. We've got an ageing demographic, strong headwinds, a fuckton of barriers and paperwork thanks to Trump's tariffs and Brexit, plus a really archaic tax system that no one has has the balls to tackle.
As I said...I don't envy her. But she's going to have to do something and she's got a large enough majority to do it.