The Daily T Reeves speech lays bare Labour's 'monstrous' tax lies
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Nov 4, 2025 Join Ben Riley-Smith, Political Editor at The Telegraph, and Alastair Heath, Editor of The Sunday Telegraph, as they dissect Rachel Reeves' controversial speech. They discuss the looming tax increases and how this contradicts Labour's manifesto promises. Alastair critiques Reeves' narrative, labeling it filled with 'monstrous lies' and warns of the potential rise of Reform politics. The duo also explores the implications of broken promises on voter trust and how this might fracture traditional party loyalty in future elections.
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Leaked Diary Signalled An Early Speech
- Ben Riley-Smith recounts spotting a leaked diary that hinted the Chancellor was practicing a speech.
- He used that to predict the early-morning announcement and media scramble.
Pre-Announcing Tax Rises To Soften The Blow
- The Treasury pre-announced tax rises to soften the political blow and condition markets and businesses ahead of the Budget.
- Ben Riley-Smith says signalling now makes the Budget sting smaller and raises expectations that income tax hikes are likely.
Teargate Affects Reeves's Public Poise
- Alastair recounts 'Teargate' as a turning point that dented the Chancellor's public image.
- He says losing visible emotional control has left Reeves appearing unsettled in public.
