"Keir Starmer is tightening his grip on economic policy by beefing up a committee that will help shape the 26 November budget. Pensions minister Torsten Bell and Starmer's new chief economic adviser, Minouche Shafik, will co-chair the budget board, that will meet weekly to discuss the details of the statement. Government sources said the meetings were aimed at ensuring No 10 and No 11 were aligned and that there was not a repeat of the backlash from businesses that followed Rachel Reeves's maiden budget."
"With the independent Office for Budget Responsibility (OBR) widely expected to downgrade its forecasts, the chancellor is expected to have to find significant tax increases in November, to avoid busting her fiscal rules in five years' time. Bell, the former director of the Resolution Foundation thinktank, has previously suggested a series of radical tax policies, including on inheritance tax, pensions and national insurance."
Keir Starmer has consolidated influence over economic decision-making by expanding a budget board that will meet weekly to shape the 26 November fiscal statement. Torsten Bell and Minouche Shafik will co-chair the board to align No 10 and No 11 and to avoid repeating the business backlash from Rachel Reeves's earlier budget. The OBR is widely expected to downgrade forecasts, forcing the chancellor to seek significant tax increases to meet fiscal rules over five years. Bell has previously proposed radical tax changes, while Reeves's staff and business liaisons on the panel are expected to temper more extreme options.
Read at www.theguardian.com
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