Chancellor’s words will be interpreted as signal she will not give in to ministers over cuts she imposes in budgetRachel Reeves has told the cabinet that the UK still faces a £100bn black hole in the public finances over the next five years amid concerns that ministers are yet to grasp the full scale of the fiscal deficit ahead.At a meeting of the political cabinet, the chancellor said the £22bn gap this year – which the government has blamed on their poor economic inheritance from the Tories – would be a recurring cost each year of this parliament. Continue reading…
Source link : https://www.theguardian.com/uk-news/2024/oct/15/rachel-reeves-tells-cabinet-uk-still-faces-100bn-black-hole-over-next-five-years
Author : Pippa Crerar Political editor
Publish date : 2024-10-15 18:52:23
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Rachel Reeves tells cabinet UK still faces £100bn black hole over next five years
