Newspaper headlines: 'Rachel Reeves' Budget Ledger' and 'Jury trials scrapped'
As you might expect, Wednesday's papers focus heavily on the Budget. The "i" calls it a "moment of truth" for Rachel Reeves. The Guardian says it will be "decisive" for Labour. The Daily Mail writes that the chancellor has been warned her "inflation-busting hike to the minimum wage threatens to push even more young people out of work". "Help is at hand" is the Daily Mirror's view. Its editorial says the increase "won't fix everything" but it does show "what happens when a government values workers instead of exploiting them".
The Daily Telegraph says the chancellor will introduce what the Tories have called a "dirty dozen" tax hikes. The paper says she'll use her speech to argue the expected increases are "essential if the NHS and other vital public services are to be protected". The Financial Times says she is hoping that the package will reassure the markets that she has "the public finances under control."
Some of the papers use their editorials to frame the Budget as bad for savers, pensioners and workers, and good for those on benefits. The Sun says "amid this endless picking of ordinary people's pockets", the chancellor "has found another £15bn to fund more benefits handouts for the jobless." The Mail says "Labour has officially become the party of the benefits class". The Times expects "a Labour budget for Labour MPs".
The Economist magazine says predictions are pointing to a Budget that "plugs the fiscal gap" with a patchwork of small tax rises, and "keeps Labour backbenchers content" with spending promises. But it warns whilst such a package might be sufficient to "steady the ship", it is likely to steer the government "straight into even rougher seas ahead".
The Daily Express uses its coverage to warn against taxing pensioners. It says 500,000 more will have to pay if the chancellor extends a freeze on income tax thresholds for another two years. The Daily Star says the chancellor will "extend the sugar tax to cover milkshakes". "Reeves shake down" is the headline. Not to a let a pun go to waste, the paper adds that she's "on shaky ground".
