Comment: Rachel Reeves listened to public's demand for change in the Budget – but will it work?
It's been a massive week in politics – from the Budget to Trump's presidential campaign – but the result of it all remains to be seen
Few weeks in the political calendar are as big as the one we’re in.
We have a new Budget to digest from the UK’s first female Chancellor, the Tory Party is about to select a new leader as it seeks to turn around an ignominious defeat at the last General Election, and our friends in America are heading to the polls as they choose between Donald Trump and Kamala Harris.
It’s a time of change, therefore, and whether the changes will be for the good, or not, remains to be seen.
In respect of Rachel Reeves’ budget, the right-wing press is frothing at the mouth as a Labour Minister has decided to tax and spend, as Britain tries to stimulate the economy and prop up its shattered public services. It’s been clear for some time that the status quo was unwise and that something had to give.
Liz Truss and Kwasi Kwarteng tried to do the opposite, slash taxes and get people spending. Their plans ended abruptly and in disaster. The markets said no, Britain lost an estimated £30 billion, and the cost of mortgages killed the dream of home ownership for many, while leaving others saddled with unsustainable debt.
