Chancellor defends tax raising as ‘reset Budget’

In the Chancellor’s first appearance before the Treasury Committee, Rachel Reeves defended decision to increase national insurance for employers

The Committee, led by newly elected chair Meg Hillier, formerly of the Public Accounts Committee, gave the Chancellor a fairly easy ride at her first appearance following the Budget, which inevitably referenced the disputed £22bn budget deficit.

In one of the largest tax raising Budgets for years, the Chancellor was probed about why such radical action was taken and whether this was the longer term outlook for Budgets with further tax rises.

Reeves told MPs: ‘This was a once in a parliament reset – we will never have to do a Budget like this again.’

When pressed by new Conservative member of the Committee, John Glen, a former Treasury minister under the last government, on whether she would ‘rule out extra taxes’, the Chancellor was cool and collected.

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