The looming Budget had cast a shadow over Westminster for months.
However, on Wednesday night, a jovial atmosphere filled Parliament’s Strangers Bar as MPs, ministers, and Government aides gathered to celebrate. A minister noted, “It’s a good day, and we have to acknowledge the positive moments.”
Labour had faced challenges recently, with concerns about Keir Starmer’s leadership, internal unrest, and declining poll numbers. Despite a tumultuous lead-up and the unexpected leak of crucial details, the Chancellor presented a Budget offering hope to struggling households.
Labour MPs welcomed the measures aimed at aiding families grappling with the cost of living, notably the removal of the two-child benefit cap expected to lift 450,000 children out of poverty. They anticipated criticism from conservatives regarding the Chancellor’s £26 billion tax increase but remained optimistic.
Emphasizing the significance of addressing child poverty, an MP emphasized the need for the Labour Party to prioritize this issue. The Budget’s focus on stabilizing public finances and reassuring the markets was evident, although questions arose about the accuracy of information provided by Ms. Reeves regarding the extent of the financial shortfall.
The Government worked to mend strained relationships with its MPs and dispel uncertainties surrounding the futures of the PM and the Chancellor, achieving a degree of success. When asked about the security of their positions post-Budget, another MP affirmed, “Yes, quite secure … for now.”
Receiving positive feedback, the Budget was perceived favorably by backbenchers who appreciated the Chancellor’s approach and socialist values showcased during the session. The consensus was that the Chancellor’s position was secure amid the overall satisfaction with the Budget outcome.
Commenting on the achievement of calming both bond markets and the left-wing backbenchers with one Budget while doubling the financial headroom, a fourth MP commended the Chancellor’s remarkable feat.
Sharon Hodgson, MP for Washington and Gateshead South, commended the Budget as a testament to the positive impact a Labour Government can have, praising Rachel for navigating challenging circumstances effectively.
Downing Street reiterated the PM’s commitment to aiding struggling families, emphasizing the importance of addressing the cost of living, a sentiment echoed in an exclusive interview with the Mirror last week.
While the message of support for struggling families resonated, challenges lie ahead, including upcoming elections in Scotland, Wales, and local English councils in May. The Budget garnered goodwill for Mr. Starmer and his Chancellor within Labour ranks but uncertainties persist.
Overall, the Budget has bolstered the Labour leadership’s standing, yet uncertainties loom in the future.