About 70 colleagues have written to chancellor ahead of budget pleading for her to commit to rewriting fiscal rules
to embrace spending tens of billions more on ailing public services as part of an increasingly wide-ranging budget that could raise tax on employers and the wealthy.
The group wants Reeves to follow through with a change that would see the value of new assets built with investment reflected in the calculation of Britain’s debt.
Lucy Rigby, co-chair of the Labour Growth Group, said the government needed to “break the Tory doom loop of low investment, low productivity and low growth if we’re going to deliver the change our constituents want to see” in their communities. “There is no time to waste and that’s why we’re encouraging the chancellor today to be bold and ambitious in investing for growth in the coming budget,” she said.
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