Speaking to MPs, she is expected to reveal details of a £20bn public spending 'black hole'
Rachel Reeves said her statement would show ‘honesty’ about the extent of the challenge facing the new Labour Government She said her statement would show “honesty” about the extent of the challenge facing the new Labour Government, adding that she would “fix the mess we inherited”., Theresa May’s chancellor between 2016 and 2019, claimed the state of public finances was well known and publicly available from the Office for Budget Responsibility, however.
“She’s made a strong point of her competence and her understanding of the issues, and then she’s undermining that by suggesting that she hadn’t got a clue. She hadn’t read the OBR or thein June that Labour did not need to win an election to find out about the bad state of public finances, however. Her speech is expected to highlight a ‘black hole’ in public spending. Ms Reeves is expected to say that the Conservatives have gone “over budget” in the current financial year to the tune of around £20bn.: “It is very striking that if this problem is about £20bn big, that is exactly the scale of the national insurance cuts implemented by
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Rachel Reeves Expected To Unveil £20bn 'Black Hole' In Public FinancesKate is a Senior Trends Reporter at HuffPost UK, covering the day's most compelling stories. She has worked in the national news since she became a qualified journalist and was previously a reporter with Express.co.uk
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Chancellor Rachel Reeves to reveal cuts to plug '£20bn black hole' in public financesAccording to the Treasury, Rachel Reeves will 'announce immediate action to restore economic stability and deliver departmental savings this financial year'. The chancellor will also accuse Rishi Sunak's government of 'covering up the true state of the public finances'.
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