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MP for the Borders

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John Lamont
MP for the Borders

UK Budget must build up Britain's economy

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Wednesday, 26 November, 2025
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UK Budget must build up Britain's economy

By John Lamont MP

Next week, the UK Labour government will publish their second budget since taking power in 2024.

The pressure is on Sir Keir Starmer and Rachel Reeves to deliver a far more positive vision than they have so far.

They must finally deliver a plan that can change, rejuvenate and invigorate Scotland and Britain's economy.

In their first budget last year, and in the time since, Labour have let down the very people who voted for them by breaking promise after promise.

They removed winter fuel payments from pensioners only to belatedly u-turn, introduced new taxes on farmers, and hiked National Insurance on businesses despite promising not to do so.

Even when they tried to streamline the social security system, they u-turned and cost the country billions of pounds in savings.

The economic damage of that budget has been severe. It has stifled growth, reduced investment, put jobs at risk, and driven small businesses to desperation.

All of that has dealt a hefty blow to public finances as slow growth means less money to pay for essential public services.

So, next week, Rachel Reeves must deliver the change that was promised. She cannot continue down this ruinous path.

She must stick to the promises she made after the budget last year, when she stated plainly she would not raise taxes again.

However, it seems highly unlikely that Rachel Reeves will keep her word.

Over the last few months, leaks from the UK Treasury have revealed that tax rises are on the table. We don't know which taxes will rise or by how much, but it has become clear that bills will go up.

Predictably, Rachel Reeves has been seeking to deflect blame for the chaos she has created. But why, then, did she claim last year that Labour had restored stability to the public finances, so she wouldn't raise taxes again?

How could anyone else be to blame if last year the public finances were secure but this year, with Labour in power, they are not?

How could it possibly be someone else's fault, other than the Chancellor herself, when last year she thought taxes would not have to rise but now, after her budget, she believes they do?

We will see what Rachel Reeves chooses to do next week. But whatever decisions she makes, they will be her own responsibility and the result of her own mistakes.
 

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John Lamont MP for Berwickshire, Roxburgh & Selkirk

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