Politics Weekly UK Can Keir Starmer save Rachel Reeves?
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Dec 1, 2025 The discussion kicks off with the implications of budget allegations against Rachel Reeves and the OBR leak. Key insights explore Reeves' U-turn on income tax and the market's rapid reaction. Keir Starmer's defense of Reeves is scrutinized, alongside the government's efforts towards cost-of-living relief. The chaos at Your Party's conference reveals deep internal conflicts between factions, raising questions about the party's future. With rising interest in leftist alternatives like the Green Party, the political landscape in the UK looks increasingly fractured.
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OBR Downgrade Fueled Budget Narrative
- The OBR's productivity downgrade was used as the central narrative for a £16–21bn budget shortfall before other factors offset it.
- Pippa Crerar explains the downgrade plus stronger wage and tax receipts eliminated the black hole before the budget.
Tax U-Turn Triggered Market Reaction
- The government considered raising income tax rates to plug the alleged shortfall but then abandoned the plan overnight.
- Kieran Stacey links the U-turn to political timing and market reaction, with bond yields spiking.
Conflicting Timelines Created Accusations
- Treasury briefings presented late wage and tax data as new cover for dropping tax rises, but timelines conflict with OBR's account.
- Pippa Crerar highlights that Reeves' explanation is inconsistent with OBR timelines, creating accusations of misleading.