Labour's tax strategy under fire as Reeves defends fiscal rules
The chancellor has defended Labour's record as the party of business and its fiscal rules after controversial tax rises, saying the government had stabilised the economy and enabled interest rate cuts.
Rachel Reeves told The Times CEO Summit that the government had achieved its 'number one job' to return economic stability after the 'turbulence' of the 'previous decade'.
The contentious decision to raise employers' national insurance contributions in October's budget provoked a sharp backlash from business leaders, who had been courted by senior Labour figures in the run-up to July's general election.
Bosses have since warned of hiring and investment cuts, while the decision is still being felt in the jobs market and in sentiment.
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