CHANCELLOR Rachel Reeves believes turning on the spending tap is just what Britain's parched public services need.
She announced a £70billion increase in public spending in yesterday's Budget, with cash for the NHS, schools, transport and housing - all of which suffered under the Tories for 14 years.
The plans will be funded through increased borrowing and £40bn in tax rises, taking the tax burden to a postwar high of 38% of GDP by 2027/28.
Labour's aim is for this to fall on the wealthiest, with the end of tax breaks for non-doms and private schools.
In the first-ever Budget to be delivered by a woman, Ms Reeves said she had chosen to "invest, invest, invest" to drive growth, as well as pumping billions of pounds into public services.
She said: "This is a moment of fundamental choice for Britain. I have made my choices; the responsible choices to restore stability to our country; to protect working people.
"More teachers in our schools, more appointments in our NHS, more homes being built, fixing the foundations of our economy, investing in our future, delivering change, rebuilding Britain." Ms Reeves accused the Conservatives of fudging their figures ahead of the March Budget, leaving her with a £22bn black hole in the public finances. She told MPs: "It was the height of irresponsibility.
This story is from the October 31, 2024 edition of Daily Mirror UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 31, 2024 edition of Daily Mirror UK.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
YOUNG: NEVER SAY DIE
Veteran Ashley says spirit at Goodison is pushing them up Prem table
NEW KIDS ON THE BLOCK
Livingstone backs his side loaded with 'untapped talent' to crush it in Caribbean
THE BOY'S DOM GOOD!
Winger Young loving life after taking a risk to swap the UK for Oz
it's We'll never see her grow...just devastating
Inquest hears from dad of Emily, 15, killed in speedboat horror
BLAZE AT NUKE SUB SHIPYARD
Two workers treated in hospital
My 250 'babies'
Sylvia shows off her brood of realistic-looking reborn dolls
GEORDIE? SURE
Uni to celebrate accent at open day
Breast cancer drug hope
Therapy slows disease's progression
Tragedy of 90ft tower block fall
Pregnant woman died after flat plunge as 'miracle' baby survives
'Devastated' not to be a British agent
Ex-soldier 'a patriot', trial told