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Rachel Reeves swears this is not a return to austerity. And yet it does feel like one | Gaby Hinsleff

The ‘party of change’ says it’s bound by fiscal rules. What voters hear is that all governments are the same, and things will never get betterIt was change that won it. That was the single word to which Labour eventually boiled down all its complex ambitions; the six-letter slogan plastered triumphantly across its manifesto, because by the summer of 2024 change was pretty much the only thing the people of an exhausted country could all agree on. What kind of change exactly had by that point almost ceased to matter. Anything but this, millions of us told ourselves, as we scattered our votes in all directions.It was clear even at the time that there were tensions between that urgent, almost reckless hunger for change and the naturally careful, cautious instincts of a steady-as-you-go incoming prime minister and chancellor. But Labour papered over them with the impenetrable mantra that, actually, if you think about it, “stability is change”. Well, actually, it isn’t. That line was neve...


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