Coffee House Shots Rachel Reeves’s farcical Budget
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Nov 26, 2025 Tim Shipman, a seasoned political journalist and author, joins James Heale, a political commentator from The Spectator, to dissect the chaos of Rachel Reeves' budget. They explore the shocking leak by the OBR, which unveiled tax hikes and economic strains before the Chancellor's speech. The duo questions whether the blunder offers Reeves political cover and discusses the budget's impact on Labour MPs. From fiscal credibility to alarming defense funding concerns, they analyze the potential public fallout and speculate on Reeves' survival as Chancellor.
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Unprecedented OBR Leak Undermined The Budget
- The OBR leak an hour before the Budget was unprecedented and destroyed the Chancellor's control of the moment.
- Tim Shipman says it looked like a cock-up that symbolises a government adrift and could have been a resignation matter in older times.
Big Tax Rises Fund Rising Welfare
- The Budget shifts large sums into welfare while raising taxes by billions, reversing prior manifesto promises.
- Tim Shipman notes Rachel Reeves has raised taxes by about £66bn compared with an £8.5bn manifesto admission.
Borrow Now, Pay Later Raises Credibility Risks
- The Budget borrows now and pushes costs into later years, risking heavier bills in 2029.
- Tim Shipman warns the government may be tempted to kick the can and not deliver the future cuts baked into projections.