Published by Global Banking & Finance Review®
Posted on November 10, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleRachel Reeves warns that fulfilling Labour's tax promises could lead to significant investment cuts, impacting capital spending in the UK.
(Reuters) -British finance minister Rachel Reeves on Monday said the Labour government could not deliver its manifesto commitments on tax without taking harmful measures like deep cuts to investment spending.
"It would of course be possible to stick with the manifesto commitments, but that would require things like deep cuts in capital spending," Reeves told BBC radio.
Ahead of its July 2024 landslide election, Prime Minister Keir Starmer's Labour Party promised in its manifesto that it would not raise taxes on working people, including income tax and social security contributions.
(Reporting by Andy Bruce; Editing by Kate Holton)
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