#fiscal-strategy

#fiscal-strategy

Rachel Reeves has approached this week's budget like a reluctant swimmer inching into freezing water, trying to ease the unpleasantness by incremental exposure. The chancellor started paddling delicately around the problem of insufficient revenue at the end of the summer. First, she refused to stand by former insistence that tax rises in last year's budget would be the last. The world has changed, she said. Then, earlier this month, she took a bigger stride into the icy waves.