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Replace council tax and scrap stamp duty: How Rachel Reeves can save Labour

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yesterday

On Wednesday, Rachel Reeves will stand at the despatch box in the House of Commons and deliver her Budget. The weeks leading up to this point have been turbulent for the Government.

Amid economic instability, the Office of Budget Responsibility downgraded its growth forecast, Reeves reportedly ditched her plans to hike income tax and break Labour’s manifesto pledge and who can forget the chaos sparked by a non-existent leadership challenge.

Regardless, the Chancellor has self-imposed fiscal rules to comply with and an estimated financial “black hole” of £20-30bn to close. This is undoubtedly a huge moment in the Chancellor’s political career – but can she survive it?

Economist Frances Coppola, political editor Hugo Gye and former chancellor Kwasi Kwarteng offer their perspective.

There is no need for doom and gloom from Rachel Reeves. In some ways, Britain is in good shape. The economy is growing, inflation is falling, wages are rising.

But the run-up to this Budget has been far from upbeat. The Chancellor has done her best to convince us that she is caught in the grip of dark forces plunging our economy into chaos, leaving her with no choice but to raise taxes (again) to pull the country out of the mire.

Her plan is fairly........

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