Reeves: The inheritance from the Tories is unforgivable
Chancellor Rachel Reeves says the inheritance from the previous government is “unforgivable” as she announces she will deliver the Labour government's first Budget on October 30. Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00They campaigned on a platform to do it all over again.
00:05More unfunded tax cuts, more spending pledges,
00:10but all the time knowing they had no ability to pay for them.
00:14No regard for the taxpayer, no respect for ordinary hard-working people.
00:18I will never do that. I will restore our country's economic stability.
00:23I am announcing today that I will hold a budget on October the 30th,
00:27alongside a full economic and fiscal forecast from the Office for Budget Responsibility.
00:31I have to tell the House that the budget will involve taking difficult decisions
00:35to meet our fiscal rules across spending, welfare and tax.
00:40Mr Speaker, they still don't get it today.
00:43Parties in Downing Street crushing the economy, gambling on the election,
00:47party before country every single time.
00:52Mr Speaker, it will be a budget to fix the foundations of our economy
00:56and it will be a budget built on the principles that this new government was elected on.