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UK's Reeves announces reduced spending plans, welfare cuts in latest economic update

Rachel Reeves announced cuts of £4.8 billion in the House of Commons, affecting welfare benefits.
The Government's impact assessment predicts that over three million families will be affected by these changes.
Former Liberal Democrat MP Norman Baker criticized the cuts as 'disgusting' and suggested targeting wealthy Americans for tax increases instead.
The Office of Budget Responsibility warns that pensioner spending could reach £182 billion by 2029/30, potentially driving further reviews of state pensions.

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No, the Office for Budget Responsibility does not have too much – or indeed any – power Henry Hill “At root, the OBR has no more ‘power’ than do your bathroom scales. Neither can issue commands, but consulting either on a regular basis has a strong tendency to influence your behaviour.” — Spring Statement sketch: Reeves started to do our headroom in Andrew Gimson ““Promises made, promises kept,” she said at one point, which raised a laugh from s…

2 days ago

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Spectator UK

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Why did I bother getting a job?

It was an ominous start to the day of Rachel Reeves’s Spring Statement, when she had to rush out messy, last minute changes to Labour’s package of welfare reforms. To unhappy Labour MPs, this confirmed their belief that the policy is Treasury bean-counting masquerading as reform. They’re not wrong. The current trajectory was unsustainable. We

3 days ago·London, United Kingdom

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New Statesman

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How the OBR became the Department for Austerity

In her Spring Statement speech on Wednesday, Rachel Reeves mentioned the Office for Budget Responsibility (OBR) 19 times. It was supposed to be a speech about how well the Labour government was handling the economy; it was to a great extent a speech about how well the Treasury had managed to pass its exams. The Chancellor looked happiest when speaking about the government’s planning reforms, not in terms of the people who might get houses they c…

3 days ago

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Daily Express

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Reeves’s economic woes may force state pension review

The "biggest portion" of welfare spending is on pensioners, which could make it a prime target to cut borrowing costs further.

4 days ago·United Kingdom

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GB News

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'Disgusting!' Rachel Reeves scolded for welfare benefit cuts in Spring Statement: 'She doesn't command respect'

Rachel Reeves's decision to slash welfare benefits by billions has been branded "disgusting" by former Liberal Democrat MP Norman Baker, following her Spring Statement on Wednesday

4 days ago·London, United Kingdom

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