The Newshound

Ousted chancellor Rachel Reeves claims her £66bn tax raid made Britain 'stronger' and says she has no regrets

Rachel Reeves, who defended her two Budgets at Harvard University, said the £24bn fiscal headroom she built allowed her successor John Healey to deliver last week's cost-of-living support.
Rachel Reeves, who defended her two Budgets at Harvard University, said the £24bn fiscal headroom she built allowed her successor John Healey to deliver last week's cost-of-living support.

Speaking at Harvard University, the ousted chancellor defended her two Budgets without apology, insisting the £66bn tax burden was the only way to end Britain's "failed austerity experiment" and build a "stronger fiscal buffer." Reeves argued her decisions shifted the tax system toward "rewarding work" rather than "passive accumulation of wealth." Britain's tax-to-GDP ratio is forecast to hit a post-war high of 38.3 per cent.

Reeves' most controversial measure — hiking employers' national insurance to 15 per cent — was blamed by the Bank of England for pushing up prices and unemployment.

Unemployment reached a five-year high of 5.2 per cent under Reeves, undermining her claim of a "low-wage, low-investment cycle" broken.

Reeves said the £24bn fiscal headroom she built allowed her successor John Healey to deliver cost-of-living support in last week's Budget.

MoreThe TelegraphRachel Reeves: I don’t regret tax risesCity A.M.Rachel Reeves claims £66bn tax raid made UK ‘stronger’Financial TimesMy tax rises made Britain’s economy stronger, says Rachel ReevesGB NewsRachel Reeves insists £66billion tax rises left Britain better off
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