Kevin Schofield is Politics Editor of HuffPost UK.
Rachel Reeves arrives in Downing Street to attend the first Cabinet meeting chaired by Keir Starmer following Labour landslide general election victory.Tory “chaos and economic irresponsibility” cost the government £58 billion in lost tax revenue last year alone, Rachel Reeves has revealed.
She will say: “Where governments have been unwilling to take the difficult decisions to deliver growth – or have waited too long to act – I will deliver. It is now a national mission. There is no time to waste. During the election campaign, Reeves and Keir Starmer repeatedly said that boosting economic growth would pay for Labour’s plans without the need to raise taxes or cut spending elsewhere.But the Tories insisted there was a £38 billion black hole in Labour’s sums which would lead to working households paying £2,000 more in tax.
“New Treasury analysis I requested over the weekend exposed the opportunities lost from this failure.
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