Rachel Reeves set to expose £20bn hole in the public finances - reports

Announcement Monday

Chancellor Rachel Reeves is expected to reveal a roughly £20bn hole in the government spending for public services on Monday (29 July), as rumours of tax rises in her Autumn Budget continue to swirl.

According to a report from The Guardian, the announcement will come next week. Labour sources publicly and privately lay the blame at the door of 14 years of Conservative economic inefficiency. One Labour insider accused the Tories of "poor management of the economy", while Reeves has publicly repeated that she has been bequeathed the "worst set of circumstances since the Second World War".  Chancellor Rachel Reeves warns 'difficult choices' on tax rises lie ahead Immediately after taking office on 5 July, Reeves ordered Treasury civil servants to provide an assessment of the UK's ...