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Rachel Reeves Profile picture
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1 Oct, 8 tweets, 3 min read
The cost of living crisis is escalating, and we have a Conservative government refusing to look at how its own choices have led to this.

Instead of letting a difficult winter unfold, they should be using our recovery to make our economy stronger.
Thread.
ft.com/content/08276c…
Today, @Ed_Miliband warned the Conservatives that we're reaching a crunch point with energy prices, and that time is running out.

Conservative complacency is leaving families and businesses exposed to rising energy prices.

We need urgent action on this.
news.sky.com/story/energy-c…
The Conservatives know their planned tax rises on working people and businesses are not good for our economy.

But they're pressing forward anyway.

And they know that businesses on our high street, who are only just getting back on their feet, should not be left behind.
theguardian.com/politics/2021/…
Labour would take action on this right now, by cutting and eventually scrapping business rates and replacing them with a new form of business taxation fit for the 21st Century.
The Conservatives keep hitting the same people again and again - and then just propose inadequate sticking plasters when they realise their mistakes.
They can use the recovery to get our economy back on track.

There are clear measures for doing so - and it's why I set out five tests for a pathway to a stronger, fairer and more resilient economy from our recovery.
theguardian.com/business/2021/…
Instead of having to constantly clean up their own mess, they should use their common sense.

Stop wasting money.

Stop hitting working people and ordinary businesses with tax rises.

Do as Labour will do: Tax fairly, spend wisely, and get the economy firing on all cylinders. Image

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More from @RachelReevesMP

Rachel Reeves Profile picture
20 Sep
NEW: Labour will scrap the private equity carried interest loophole – a loophole that leaves fund managers with a tax break of up to £170,000 a year.

Here’s why [THREAD] 
ft.com/content/16c17b…
How does this deeply unfair loophole work at the moment? 

Firstly, the same rules have applied since 1987, despite huge economic changes. 

Since then, the income fund managers receive in carried interest has been taxed at the rate of Capital Gains Tax, rather than Income Tax.
That means an additional rate taxpayer (someone earning over £150,000) is paying 28% on carried interest - rather than 45% if it was treated as regular income.
Read 8 tweets
Rachel Reeves Profile picture
29 Aug
The supply chain crisis is the result of the Tories' Brexit deal and their failure to plan - together with the neglect of vital jobs and ministers' refusal to listen to those working in industry. 1/8
theguardian.com/politics/2021/…
HGV drivers are some of the many overlooked and undervalued workers who are vital to keep our economy moving. @RHANews estimate it could take up to 18 months to tackle the shortfall of HGV drivers. 2/8 rha.uk.net/News/News-Blog…
The shortages we’re seeing in our supermarkets now are only set to escalate in the run up to Christmas. The Tories have no plan to address the issues that are causing these problems - in either the short or the longer-term. 3/8
Read 8 tweets
Rachel Reeves Profile picture
27 Jul
Today, Labour sets out the 5⃣ tests we expect from this government for our economic recovery.

We must use this moment to build an economy that makes the most of the huge potential we have as a country. Thread.
ft.com/content/524d9d…
The UK had the worst economic crisis in the G7 over the pandemic, and hasn’t bounced back to its pre-crisis GDP per capita.

🇺🇸 US is already there
🇯🇵 Japan will be there in October
🇩🇪 Germany in January
🇬🇧 UK won’t get there till July 2022.
Under years of a Tory government, our growth has been slower than that of our peers.

Under this Tory government’s current plans, it will slow even further.
theguardian.com/politics/2021/…
Read 10 tweets
Rachel Reeves Profile picture
4 Jul
As we recover from the pandemic, we must futureproof our economy and get it firing on all cylinders.

Today, Labour launches how we would start that: by making, buying & selling more in Britain, and building the skills and jobs of the future. Thread.
theguardian.com/politics/2021/…
There are three parts to this plan.

The first is to give more public contracts to British companies, big & small.

We'll do this with stretch environmental and social clauses in contracts, to spend & make more in Britain, while also raising standards as a global trading nation.
Second, we will bring the industries of the future to Britain, by reshoring more jobs here.

From green jobs in offshore wind, to fin tech, media and film, we must grow our modern industries for a long-term economy that provides good jobs and thrives.
Read 5 tweets
Rachel Reeves Profile picture
12 May
The recovery from the pandemic represents a crucial moment for Britain.

This really is not the time for papering over the cracks.

Instead, we must match the scale of the moment and the challenges facing our people and our planet.

A thread on the Queen's Speech.
Too many wages have stalled, household debt is rising, and too many are struggling.

Those with the jobs that keep our economy running and our public services going are overlooked and undervalued.

The Government has done nothing for them and nor does this Queen’s Speech.
The challenges and opportunities facing our country are great, yet what the Government is putting forward is small.

After just 24 hours we can see how thin this Queen's Speech is.
Read 8 tweets
Rachel Reeves Profile picture
23 Apr
'Unethical, foolish, and possibly illegal.'

Not my words, but the PM's former Chief Adviser describing Johnson's approach to the luxury refurb of the Downing Street flat.

The government's statement today covers up more than it reveals. We must know who knew what, when. Thread.
Last month Sarah Owen asked 24 questions following extraordinary reports of this luxury refurb.

The government have answered about one and a half of them.

We still have no idea who originally paid for the refurb, when, why & how much it's cost to date.

Over the last year, government has been repeatedly evasive about who paid for the refurb. What have they been hiding & why?

Given what we know a text from a friend of the Prime Minister can get from this government, how far could a discreet donation for a luxury refurb get you?
Read 6 tweets

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