Labour Shadow Chancellor Warns of Tough Economic Inheritance, Outlines Methodical Funding Plans
• Labour won't be able to "turn things around straight away" if elected, shadow chancellor Rachel Reeves has said. They will inherit the worst economy since WW2.
• Reeves said Labour will "methodically" identify funding streams to pay for NHS and schools pledges. This includes taxing private equity executives and private schools.
• Reeves confirmed Labour would keep the government's capital gains tax cut on second homes.
• Asked if Labour would make real-terms cuts in some areas, Reeves said "we are not going to be able to turn things around straight away."
• The Conservatives said Labour "didn't have a plan" to pay for their policies, meaning higher taxes.