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Labour accuses Sunak of ‘smoke and mirrors’ budget due to lack of new money
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Labour has accused Rishi Sunak of presiding over a “smoke and mirrors” budget after he conceded that just 20% of his biggest single spending commitment unveiled before the speech is made up of new money.
The Treasury has committed to almost £26bn of spending in a rush of announcements before Wednesday’s budget and spending review. It is expected to contain no tax cuts and the chancellor has sought to reassure anxious Tory MPs that he is a fiscal Thatcherite at heart.
Following months of general equanimity among parliamentary colleagues and the public as Sunak spent billions on Covid relief, he faces a hugely tricky budget, trying to balance the worries of Tory MPs about what they see as an increasingly high-tax, high-spend government, and
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