Pre-Christmas ‘tis the season for UK politicians to be honest — up to a point. After 17 months of self-deception and outright deceit about the state of the nation’s finances, Labour has finally acknowledged that the books cannot be balanced. Either taxes must rise or spending will have to be cut because the bond markets will punish any attempt by the government to borrow its way out of political trouble.
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The Labour Party’s Coming Tax Raid Won't Be Its Last
