Rachel Reeves is the new UK government’s Chancellor of the Exchequer:
Says there is still more work to do on ‘Pillar 1’ tax agreement,
optimistic for agreement by AutumnWants tax burden on
working people to be lower, but will not make unfunded commitmentsWill make statement
on Monday about the state of public finances, public spending
pressuresI want taxes to be
lower, not higher, but won’t make commitments without being able to
say where the money is coming fromI am going to fix
fiscal mess that the tories left usWants fairer,
sustainable tax on wealthy but need to strike right balanceLabour wants to be
pro-growth, pro-wealth creation
Stay tuned for Monday.
Later next week the Bank of England meet, on 1 August. A rate cut is expected.
This article was written by Eamonn Sheridan at www.forexlive.com.
