Speaking from the Downing Street Rose Garden, the Prime Minister promised no more “business as usual” and his intention to “reverse a decade of decline”. But voters will be wary of more rhetoric and rather more keen on results. Since assuming power, Sir Keir Starmer and Rachel Reeves have highlighted the fiscal challenges this country faces. The riots this summer show there are social issues that must be urgently addressed as well.
It is not wholly unreasonable for Sir Keir to blame his inheritance on the previous Conservative government. The fiscal black hole is not a figment of the Chancellor’s imagination. Taxes will rise to plug it, with Labour for months refusing to rule out hikes in areas such as capital gains tax or pensions relief.
