of words and interpretations when pressed on this issue. Labour’s manifesto pledge not to raise income tax for those earning below £80,000 is already looking precarious given the spending pressures on the new government. The fiscal rule that limits borrowing for investment will also be tested by the need to stimulate the economy post-Brexit. The promise not to raise taxes may hold for now, but don’t be surprised if it’s quietly dropped or revised in the face of economic realities. George Parker\”
