On Tuesday morning Keir Starmer addressed the nation and warned that Labour’s first Budget “is going to be painful”, suggesting that tax rises are on the way. 

While the prime minister stressed that those with the “broadest shoulders should bear the heavier burden”, he warned that he won’t “shy away from making unpopular decisions”, raising the question of whether Labour is bringing back austerity.

Rachel Cunliffe, associate political editor, is joined by George Eaton, senior editor.

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