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Leading article

Rachel Reeves is taking us back to the 1970s

2 November 2024

9:00 AM

2 November 2024

9:00 AM

The first fiscal event to be delivered by a female Chancellor of the Exchequer is a landmark moment, but in every other regard this Budget was a return to the familiar, and failed, approach of Labour governments past. This was the Life on Mars Budget – a journey back to the 1970s, only without the cheap booze and fags.

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