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Political reporter Becky Morton delivered a strong message from Chancellor Rachel Reeves at the Labour Party’s conference in Liverpool. Reeves emphasized her commitment to not taking risks with public finances, acknowledging the difficult choices the government is currently facing. She assured the audience of her intention to keep taxes, inflation, and interest rates low, but hinted at potential tax increases in the upcoming Budget due to various international events impacting the economy.
During a BBC interview prior to her speech, Reeves highlighted the significant changes in the world over the past year, including conflicts in Europe and the Middle East, US tariffs, and global borrowing costs. These factors have contributed to the government’s decision-making challenges. Reeves also criticized previous Conservative policies, particularly Liz Truss’s handling of mortgage costs, and cautioned against those who advocate for abandoning economic responsibility.
Despite facing pressure from some Labour MPs to increase spending, Reeves is determined to uphold the government’s self-imposed borrowing rules. She urged Labour activists to take pride in the party’s achievements, such as recruiting new police officers and establishing school breakfast clubs. Reeves’s address at the conference was met with support from delegates, who gave her a standing ovation. She also addressed a protester carrying a Palestinian flag, emphasizing the party’s shift from protest to governance. The chancellor took the opportunity to criticize Reform UK, led by Nigel Farage, labeling it as a significant threat to the working class
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