Video: Rachel Reeves admits she was wrong about taxes during election campaigning

Sunday Morning with Trevor Phillips, Sky News

Transcript

00:00I was wrong on the 11th of June, I didn't know everything because when I

00:06arrived at the Treasury on the 5th of July, so just under a month after I said

00:12those words, I was taken into a room by the senior officials at the Treasury and

00:18they set out the huge black hole in the public finances beyond which anybody

00:23knew about at the time of the general election because the previous

00:27government hid it from the country, they hid it from Parliament and indeed they

00:31hid it from the official independent forecast of the Office of Budget

00:35Responsibility and so when I went into that budget last week I had to put our

00:42public finances back on a firm trajectory because we saw in the

00:46previous Parliament what happens when government loses control of the public

00:49finances and the first commitment we made in our manifesto was to bring

00:54stability back to the economy.