Starmer prepares country for challenging budget to avoid severe austerity
The prime minister stated that the economy is currently in a worse state than it was in 2010, with public services also worse off compared to 1997. Nonetheless, he has pledged to protect working people.
Sir Keir Starmer prepared the nation for a challenging budget announcement later this week, cautioning about the economy being in a worse condition than it was in 2010 when the Conservative government introduced austerity measures.
During a speech in Birmingham on Monday, the prime minister emphasized that the measures to be revealed by Chancellor Rachel Reeves on Wednesday are aimed at preventing further devastating austerity.
He emphasized, “This is neither like 1997 when the economy was stable but public services were struggling, nor 2010 when public services were robust but public finances weak.”
He added, “We need to address both aspects of the situation,” highlighting the necessity to fill what he termed a “22 billion black hole” in the country’s finances.
‘Worse Than We Expected’
The prime minister mentioned, “The situation is more severe than what we had envisioned during the election, and the upcoming budget will make that very evident.”
Starmer accused the Conservatives of being aware of the impending fiscal crisis and evading it by calling a snap election in May.
He stated, “Politics is about making choices, and we won’t shy away from our decisions on Wednesday or any other day.”
Addressing concerns about potential tax hikes, the prime minister refused to rule them out but reiterated that the budget’s focus is on working people and aims to rectify the economy’s foundations.
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