I’m not making excuses, where did she lie?
Do you know the plan for investment and the costs involved?
We’re at a point where our public services need investment, and turn around the austerity and mismanagement of public services. That costs, and although you personally don’t want to support these measures, I do. I want to see public services support the next generations, giving them a decent start in life, covering their educational needs, supporting them where needed throughout life, and giving them dignity in their later years.
I see that as fundamental to a decent society, and without it, you get where we were only a couple of years back.
I’ve already outlined what she said to the BBC, and when she said it (10 November).
We did know the plan for investment, as it was outlined in the first two fiscal statements delivered by Reeves, and further detail was provided by the Comprehensive Spending Review in June. The cost of providing this and indeed all other borrowing was already projected in the October 24 and March 25 forecasts and was of course due to be updated in the Budget.
Reeves stated on 10 November that capital spending would need to be significantly reduced if manifesto pledges on tax were to be kept. This wasn’t the case in March, and so the only logical conclusion to draw from such a statement is that the fiscal position had deteriorated significantly, and that action would be required to avoid breaching the fiscal rules.
However we now know that Reeves was told by the OBR on 20 and 31 October that this wasn’t the case, and that the fiscal rules would in fact still be met with the existing profile of resource and capital spending, and indeed without any further increases in tax of any kind.
This is all on the record and fact, regardless of what some desperate sorts on here suggest. The only conclusion to draw is that Reeves lied about the state of the public finances and deliberately misled markets.
Given that you’re so keen to see government spending increased, and more funding provided for public services, I find it odd that you’re defending a Chancellor who deliberately provided a misleading, pejorative picture of the public finances for selfish political gain.
The OBR’s assessment of debt servicing costs have already increased by £41bn over the past year, money that could be spent elsewhere. But you seem happy defending behaviour that contributes to higher borrowing costs and weaker growth, putting further pressure on public spending.
I do find that surprising, at least with regard to yourself, if not for others on here.