Reeves says she will not ‘tax and spend’ ahead of Spring Statement

Chancellor Rachel Reeves has ruled out “tax and spend” policies, signalling that she will neither raise taxes nor government budgets in her critical Spring Statement next week.
Speaking in a BBC documentary, The Making of a Chancellor, Reeves also warned that the government could not afford the kinds of spending increases seen under the last Labour government.
She is expected to make cuts to some government departments on Wednesday. More money has already been allocated to defence by reducing the aid budget.
“We can’t tax and spend our way to higher living standards and better public services. That’s not available in the world we live in today,” she said.
In her autumn Budget, Reeves increased the levels of tax and public spending significantly – paid for largely through extra taxes on businesses which proved highly controversial.

Courtesy: BBC