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?

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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.

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