In a major shift of policy, she announced that it would now be “ramped up” over a number of years.
A Labour government, if elected, would get to the £28 billion annual sum by the second half of its first five years in power, she added. Defending the scaling back of the time frame for the policy, Ms Reeves stressed that Labour’s fiscal rules were “non-negotiable” as they were the “rock of stability” on which the economy had to be built.
“I will never play fast and loose with the public finances,” she insisted, criticising Kwasi Kwarteng’s disastrous “mini-Budget” last September.
But Cabinet ministers tore into the policy change. Net Zero Secretary Grant Shapps tweeted: “This embarrassing and screeching u-turn by @RachelReevesMP confirms what we all knew...
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