IFS reacts as Starmer warns of 'painful' autumn Budget
Video Credit: ODN - Duration: 01:08s - Published
IFS reacts as Starmer warns of 'painful' autumn Budget
Director of the Institute for Fiscal Studies Paul Johnson said neither party was being honest in the election about raising taxes after Keir Starmer warned autumn's Budget would be "painful." "They've said they won't increase income tax, national insurance, VAT or corporation tax.
Three-quarters of our tax revenue comes from those four taxes and if they're not going to raise those, it leaves them with a very limited number of options," Mr Johnson said.
Report by Kennedyl.
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Prime Minister Sir Keir Starmer has arrived at the Houses of Parliament for PMQs, where he is likely to face questions on Tulip Siddiq's resignation as Treasury minister and the economy, after the latest ONS figures show inflation dipped to 2.5% in December. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Mel Stride says Prime Minister Sir Keir Starmer "should have acted earlier" to ensure Tulip Siddiq left the government over an anti-corruption investigation into her wider family in Bangladesh. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Darren Jones says Tulip Siddiq's resignation from the government can be seen as a "clear success" for Sir Keir Starmer, as it shows the prime minister's new independent process for investigating ministerial conduct "has worked". The chief secretary to the Treasury adds Siddiq "was a good minister doing a great job", but that she accepted her wider family had become a "distraction" for the government. Siddiq resigned as Treasury minister over an anti-corruption investigation into her wider family in Bangladesh. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chris Philp has accused Prime Minister Sir Keir Starmer of being "more interested in his cronies" than making appointments with integrity. The shadow home secretary's comments come after Tulip Siddiq quit as a Treasury minister over links to her aunt's political movement in Bangladesh. Philp adds the prime minister should have acted quicker and has called for the National Crime Agency to investigate "unanswered questions". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Cabinet ministers arrive at the Foreign, Commonwealth and Development Office (FCDO), as Prime Minister Sir Keir Starmer holds his weekly Cabinet meeting. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The shadow chancellor says the Treasury "should not be popping champagne corks" over the unexpected dip in inflation to 2.5% in December. Mel Stride adds the government has "killed growth stone dead" after inheriting an economy that was "much better than they make out". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chief secretary to the Treasury has hailed an unexpected dip in inflation, but admits that the cost of living "is still a pressure for families across the country and there's more work to do". Darren Jones adds the latest Office for National Statistics figures, "shows that the prime minister's plan for change is working". Inflation has fallen to 2.5% in December from 2.6% in November, which will come as a relief to Chancellor Rachel Reeves, who has faced criticism given rising government borrowing costs and a slump in the value of the pound. The latest figures could open the door for an interest rate cut next month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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