Prime Minister Keir Starmer addressed the nation from the Downing Street rose garden today, as he delivered his “state of the nation” speech.
Starmer said their “project has always been about fixing the foundations of our country”, but warned “things are worse than we ever imagined”, citing a £22billion “black hole” in public finances.
Warning the Autumn Budget in October would be “painful”, Starmer said: “We have no other choice given the situation we’re in.
“So those with the broadest shoulders should bear the heavier burden.”
John O’Connell, chief executive of the TaxPayers’ Alliance, said: “Taxpayers will be left disheartened and betrayed by Starmer’s speech, which does nothing to help households who are already struggling under a 70-year high tax burden.
“The prime minister talks about ‘fixing the foundations’ and yet is whistling the same old tune of managed decline that has plagued Britain for decades.
“If this new Labour government is genuinely committed to wealth creation as it claims it should avoid hiking the very taxes that so ruthlessly crush economic growth, particularly capital gains tax.”
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