How Rachel Reeves can ‘break Britain’s tax-and-spend doom loop’ as Budget looms
Blair think tank issues tax warning to chancellor ahead of Budget
- A report from the Tony Blair Institute (TBI) has urged Chancellor Rachel Reeves to implement temporary tax increases alongside significant pro-business reforms to revitalise the economy.
- The TBI recommends that any substantial tax rises, especially those that might breach manifesto pledges, should be clearly communicated as short-term, conditional measures to stabilise public finances.
- The think tank calls for a “big initial wave of pro-business reforms” in the upcoming Budget to signal a clear change in direction and move beyond the government's current cautious approach.
- Specific policy recommendations include retaining a six-month qualifying period for unfair dismissal protection and maintaining the five-year route to permanent settlement for skilled worker visas.
- The TBI also proposes a “preventative welfare” programme, suggesting that future welfare payments be invested into NHS treatments like talking therapy and new obesity treatments to tackle the rising benefits bill.