The REAL Labour agenda? Tony Blair warns UK faces 50bn in tax hikes by 2029 after Rachel Reeves ‘paves the way to raise the burden’ by warning public finances are in the ‘worst state since the Second World War’ [Video]

03:33 EDT 09 Jul 2024, updated 05:54 EDT 09 Jul 2024

Fears are mounting over a Labour tax raid today after Tony Blair warned Keir Starmer he could need to push up the burden by £50billion.

The former PM raised concern that the extra revenue will be needed unless the government ‘changes approach’ on issues like AI.

But the intervention will raise fresh alarm after new Chancellor Rachel Reeves was accused of paving the way for taxes.

Ms Reeves issued a doom-laden warning yesterday about the ‘spending inheritance’ from the Tories.

And she revealed she has already commissioned Treasury officials to conduct a review of the public finances ‘so that I can understand the full scale of the challenge’.

Conservatives said it showed their election attack lines about Keir Starmer not being honest about his tax plans were coming true. 

Labour’s manifesto pledged the party would not raise the headline rates on income tax, National Insurance or VAT. However, …