US EditionTreasury earmarks billions in spending cuts ahead of Spring Statement
- Rachel Reeves plans to implement billions in cuts to benefits and public spending ahead of the Spring Statement, according to Treasury sources.
- Reeves' fiscal wiggle room has diminished due to flatlined economic growth, rising inflation, and increased borrowing costs since her first Budget.
- Justice Secretary Shabana Mahmood stated there is a moral case for ensuring those who can work are able to work, highlighting the unsustainable welfare situation.
- The SNP criticized Labour's planned cuts, claiming they would betray election promises and harm Scotland's most vulnerable populations.
36 Articles
36 Articles
UK finance minister Reeves slows her spending plans
British finance minister Rachel Reeves trimmed her plans for spending increases in a budget update today that provided some reassurance for investors, but the risks of a global trade war could put fresh tax hikes on the table later this year.
£1bn cuts to hospitals and schools to fund pay rises for doctors and teachers
Rachel Reeves has cut up to £1.4bn in spending for modernising schools and hospitals to pay for her pay deal with trade unions, it can be revealed.According to Treasury documents seen by The i Paper, money earmarked for “capital expenditure” used to improve medical and education facilities is being used to help fund the multi-billion-pound pay deals Reeves made shortly after Labour took office.Although it is not known precisely what the money wa…
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