"Spring Statement: Larger Event, Unpalatable Trade-offs"

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World

Spring Statement: Potentially unpalatable trade-offs loom for Labour

Summary

Nutrition label

77% Informative

Labour won last year's general election to "kickstart economic growth" But the economy is flatlining, inflation is up and government borrowing costs are up.

The UK has an aging population, the benefits bill is going skywards, the dangerous international picture is demanding more money for defence and the country is saddled with huge debt.

With big and potentially unpalatable trade-offs looming, what alternatives could be?.

Labour promised not to raise national insurance in its election manifesto.

But they did, nonetheless, put up national insurance, albeit on employers not employees.

Some say it could further depress an already stagnant economy.

But increases to these taxes tend to lead to a reliable big uptick in tax revenue.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English