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| Reeves and Starmer can't escape impact of sluggish economy | Reeves and Starmer can't escape impact of sluggish economy |
| (about 2 hours later) | |
| We are reminded rather starkly today of the backdrop – the all too hard to shift backdrop – that shapes our national life and conversation and the trade-offs the government confronts. | We are reminded rather starkly today of the backdrop – the all too hard to shift backdrop – that shapes our national life and conversation and the trade-offs the government confronts. |
| The latest GDP figures underline the baked in sluggishness, the flatlining, even the shrivelling of the economy. | The latest GDP figures underline the baked in sluggishness, the flatlining, even the shrivelling of the economy. |
| All this after the prime minister and the chancellor sought to badge their Spending Review on Wednesday as the beginning of a new chapter. | All this after the prime minister and the chancellor sought to badge their Spending Review on Wednesday as the beginning of a new chapter. |
| Rachel Reeves hopes her prescription can be part of the cure for our collective economic woes, writing in The Daily Telegraph that "investment" is "with a singular purpose in mind – to make you and your family better off." | Rachel Reeves hopes her prescription can be part of the cure for our collective economic woes, writing in The Daily Telegraph that "investment" is "with a singular purpose in mind – to make you and your family better off." |
| But that feels, just as it did under the previous government, like an aspiration for another day, some distance away, rather than an imminent prospect. | But that feels, just as it did under the previous government, like an aspiration for another day, some distance away, rather than an imminent prospect. |
| The economic sluggishness has another impact too. There is a widespread recognition, including in the Treasury, that the limits are being reached on what the government can sustainably borrow. | The economic sluggishness has another impact too. There is a widespread recognition, including in the Treasury, that the limits are being reached on what the government can sustainably borrow. |
| If there is an acceptance there can't be any more borrowing and the economy remains in the slow lane, that points to more tax rises in the Budget in the autumn. | If there is an acceptance there can't be any more borrowing and the economy remains in the slow lane, that points to more tax rises in the Budget in the autumn. |
| Meanwhile, the chancellor has asked her MPs to go out and sell the government's plan - just as some of them grumble that both she and the prime minister are no good at doing that themselves. | Meanwhile, the chancellor has asked her MPs to go out and sell the government's plan - just as some of them grumble that both she and the prime minister are no good at doing that themselves. |
| Reeves refuses to rule out tax rises after economy shrinks | |
| Seven ways the Spending Review affects you | Seven ways the Spending Review affects you |
| Winners and losers: Who got what in the review? | Winners and losers: Who got what in the review? |
| What has the chancellor has announced? The key points | What has the chancellor has announced? The key points |
| Watch: Where the money is being spent | Watch: Where the money is being spent |
| There is a frustration from some at the apparent inability of Sir Keir Starmer and Rachel Reeves to talk in pictures, to punchily, directly and repeatedly articulate in a way that is absorbed what the government is about and who it is for. | There is a frustration from some at the apparent inability of Sir Keir Starmer and Rachel Reeves to talk in pictures, to punchily, directly and repeatedly articulate in a way that is absorbed what the government is about and who it is for. |
| Is the defining mission clear enough? Is this a government with a demeanour and posture that matches its majority? | Is the defining mission clear enough? Is this a government with a demeanour and posture that matches its majority? |
| No, is the private judgement of some on its own side, let alone their critics, and some in business. | No, is the private judgement of some on its own side, let alone their critics, and some in business. |
| What is clear as the numbers and charts from the Spending Review are poured over is the difference between a Labour government and a Conservative one. | What is clear as the numbers and charts from the Spending Review are poured over is the difference between a Labour government and a Conservative one. |
| Whether it is a welcome difference depends on your point of view, but the difference is marked. | Whether it is a welcome difference depends on your point of view, but the difference is marked. |
| In particular, the willingness to borrow and borrow big time for long term stuff. | In particular, the willingness to borrow and borrow big time for long term stuff. |
| And one final observation - just because of its scale. By 2028-29 the day-to-day spending on the health service for the year will be nearly a quarter of a trillion pounds. | And one final observation - just because of its scale. By 2028-29 the day-to-day spending on the health service for the year will be nearly a quarter of a trillion pounds. |
| £226bn is around the same as the total economic output of the Portuguese economy. | £226bn is around the same as the total economic output of the Portuguese economy. |
| And still the question is asked by some about whether that is enough, as others ponder for how long numbers this big and rising can possibly be sustainable. | And still the question is asked by some about whether that is enough, as others ponder for how long numbers this big and rising can possibly be sustainable. |
| Sign up for our Politics Essential newsletter to keep up with the inner workings of Westminster and beyond. | Sign up for our Politics Essential newsletter to keep up with the inner workings of Westminster and beyond. |