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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Watch out, Rachel Reeves: the old guard is ganging up on your borrowing ambitions

People ride bicycles in a cycle lane in London.
Labour would borrow a higher percentage of GDP to spend on construction projects such as cycle lanes. Photograph: Stefan Rousseau/PA

One by one, they stamp all over your dreams. In this election year, the dashed hopes will belong to Rachel Reeves. In 2010 the victim was Alistair Darling.

Reeves wants to increase spending on the UK’s crumbling infrastructure should Labour win at the polls. Her commitments have become less ambitious as pressure mounts from mainstream economists and those in high finance worried about current debt levels escalating.

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