Rachel Reeves has paved the way for potential tax rises. In a speech three weeks before the budget, the chancellor refused to commit to Labour’s manifesto promise to not raise National Insurance, income tax or VAT. With Nigel Farage also back-pedalling on tax cuts, is it time for the politicians to be more honest about the state of the economy?

This podcast was brought to you thanks to the support of readers of The Times and The Sunday Times. Subscribe today: http://thetimes.com/thestory

Guest: Oliver Wright, policy editor, The Times

Host: Manveen Rana.

Producers: Shabnam Grewal, Alula Hart.

Read more: Reeves: We must all do our bit to secure Britain’s future

Further listening: Do bond markets rule the world?

Clips: Sky News, The Guardian, Parliament TV, ITV Politics.

Photo: Getty Images.

Get in touch: [email protected]

Hosted on Acast. See acast.com/privacy for more information.