Let’s see what the Reeves budget brings…

Thursday, 3rd October 2024

• IT was refreshing to see the well-argued letter from Carolyn Hayman concerning the winter fuel payments, (Arguments for Labour’s move on the winter fuel payment, September 26).

As a fellow pensioner I too do not require the money and I am happy for it to be used for those in greater need.

As Ms Hayman argues, there are other sources of income for those in real poverty. I am sure that Camden Council will continue to do all it can to help anyone who gets into difficulties.

There is already advice on how to save energy and a range of warm, welcome spaces in libraries, children’s centres and other community buildings across the borough.

There are two things to bear in mind.

First, it is vital that we ensure generational fairness. Young people get the worst deal from governments, in the labour market, housing, higher education and government expenditure.

The reason is simple; older people like myself vote and younger people tend not to. So, governments push scarce resources our way, leaving the young disillusioned and forced to fend for themselves. This can’t continue.

Secondly, the key to greater expenditure is growth and productivity. Here the picture is much brighter. As the Paris-based Organisation for Economic Cooperation and Development forecasts, the British economy is likely to be among the fastest growing economies in the developed world.

This is excellent news. It is also no accident.

The chancellor Rachel Reeves’s determined reassurance to business that she is pro-growth and dealing with the £22billion hole in the Treasury that the Tories bequeathed her, is beginning to reap rewards. There is stability, markets are calm, and with this comes growth and vital investment.

Growth will increase government revenues and allow us to bring down our national debt and grow our spending. This is vital if Britain is to be the dynamic, forward-looking, pleasant, country that we all want.

Let’s see what her autumn budget brings. Then we can make up our minds.

MARTIN PLAUT, NW5

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