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Chancellor Rachel Reeves is looking to make tax rises and spending cuts to the value of £40bn in this month’s Budget, government sources have told the BBC. At a political cabinet meeting on Tuesday, Reeves told ministers that filling the "£22bn black hole inheritance from the previous government" would only be enough "to keep public services standing still".

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Financial Times

London

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Reeves aims to close £40bn funding gap as she plans tax rises in Budget

Filling the £22bn financial "black hole" would only be enough “to keep public services" still, she told a meeting.

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BBC News

Government of the United Kingdom

Rachel Reeves eyes £40bn in tax rises and spending cuts in Budget

The Chancellor told ministers on Monday that plans to fill a £22 billion black hole would be enough only to ‘keep public services standing still’.

The Independent

Evgeny Lebedev

Reeves eyes up to £40bn in tax rises and spending cuts in Budget

Officials believe as much as £40bn will need to be raised mainly from tax hikes.

Daily Express

Reach plc

Rachel Reeves planning up to £40bn of tax rises and spending cuts in Budget

Rachel Reeves is looking to make up to £40 billion of tax rises and spending cuts in this month’s Budget as the Government seeks to avoid a return to austerity, it is understood.

Irish Independent

Mediahuis

Ireland

Keir Starmer’s first budget: Reeves eyes up to £40bn in tax rises and spending cuts

RACHEL Reeves is staring at a £40 billion funding gap ahead of the Budget - but insists on still prioritising the NHS.Rachel Reeves needs the cash to

The Sun

Murdoch family

Cash-strapped Chancellor staring at £40bn funding gap ahead of Budget

Figure is far higher than £22bn ‘black hole’ the Chancellor has previously highlighted

The Telegraph

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David and Frederick Barclay

Reeves to target £40bn of tax rises and spending cuts in Budget

Shropshire Star

MNA Media

Ketley

Shropshire

The Chancellor told ministers on Tuesday that plans to fill a £22 billion black hole would be enough only to ‘keep public services standing still’.

Evening Standard

Alfred Harmsworth (barrister)

Geraldine Mary Harmsworth

Patricia Harmsworth, Viscountess Rothermere

Carron Greig

Ms Reeves has previously said the Conservatives left the new government with a £22bn shortfall, requiring "tough decisions" like axing the winter fuel payment.

Sky News UK

Roberts family

Chancellor Rachel Reeves looking to 'find £40bn' in budget

Figure is significantly more than the £22bn fiscal hole the government previously identified

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Rachel Reeves

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Reeves eyeing £40bn in tax rises and spending cuts

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Reeves eyeing £40bn in tax rises and spending cuts

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