Rachel Reeves, a Labour Party member, stated that if she becomes chancellor, there will be an initial injection of cash into public services. She mentioned plans to spend £1.5bn by removing VAT-free status from private schools and £7.7bn from a windfall tax on energy companies. Reeves acknowledged the challenging economic situation but expressed determination to work on improving it.
In an interview with the BBC’s Sunday with Laura Kuenssberg programme, Reeves was asked what the “big difference” was between Labour and Tory plans for the economy. Reeves said said there would be an “initial injection of cash” into public services if she becomes chancellor. She said Labour would spend £1.5bn by removing VAT-free status from private schools and £7.7bn from a “proper” windfall tax on energy companies .“Those are not crumbs” Reeves said.
“That is real money to go into our public services that the Conservatives are not investing today.”But Reeves said Labour looked to be inheriting the worst economic situation “since the Second World War” and was “under no illusions” about the challenge. “I have to be honest that we’re not going to be able to turn things around straight away but we will get to work on all of that,” she said. Reeves also said she had yet to identify how she would find the £2bn needed to fund pledges to cut NHS waiting lists and fund free breakfast clubs at school
Rachel Reeves Labour Chancellor Public Services Cash Injection VAT-Free Status Private Schools Windfall Tax Energy Companies Economic Situation NHS Waiting Lists Free Breakfast Clubs
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