https://morningstaronline.co.uk/article/reeves-plans-new-austerity-as-government-debt-rises

Unite general secretary Sharon Graham calls for wealth tax

MORE austerity is on the agenda as Chancellor Rachel Reeves prepares a new clampdown on public spending in her autumn Budget.

In a move that risks sparking new divisions and struggle within the labour movement, Ms Reeves is set to prioritise reassuring global money markets over repairing the damage done by the Tories.

She is reported to have been spooked by figures showing public sector borrowing at £3.1 billion in July, £1.8bn more than a year previously and above most expectations.

However, borrowing has fallen over a longer time-frame, but Ms Reeves will pay more attention to the short-term figures and use them as a reason to impose more austerity.

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Unite general secretary Sharon Graham has called for a shift in priorities, saying: “We are the sixth-richest economy in the world, where the 50 richest families are worth £500bn.

“It is clear, irrespective of ‘black holes,’ that we need to consider a wealth tax.”

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https://morningstaronline.co.uk/article/reeves-plans-new-austerity-as-government-debt-rises