Shadow Chancellor says her 'instinct is to have lower taxes'
Labour's Rachel Reeves says her 'instinct is to have lower taxes' as she reacts to the government's latest tax and spending announcements. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 My instinct is to have lower taxes on working people, especially when working people have
00:05 faced higher mortgages, higher gas and electricity bills, food prices and higher taxes under this
00:11 Conservative government. But I'm not going to make any unfunded or uncosted commitments on tax.
00:19 The Conservatives did that last year. It crashed our economy, sent markets into chaos and resulted
00:25 in higher mortgage rates, which families are paying for right now with higher mortgage costs.
00:31 The tax cuts yesterday are welcome, but they're a drop in the ocean compared to the tax increases
00:37 that this Conservative government have already brought in. The Chancellor made a big fanfare of
00:41 cutting taxes yesterday, but of course today nearly £100 of that money for most families
00:47 would disappear straight away with higher gas and electricity bills from January, at the very time
00:52 when people are using gas and electricity the most.