Rachel Reeves pledges 'no austerity' but warns of 'tough decisions' ahead

Labour party's annual conference

Chancellor Rachel Reeves has doubled down on her promise not to bring back austerity measures during her speech at the Labour party's annual conference in Liverpool today (23 September).

Reeves accused the former Conservative government led by Rishi Sunak of spending money that "was not there", contributing to the £22bn fiscal hole, which she said would pose risks "for years to come" if not tackled now.  However, the chancellor added that "there will be no return to austerity" because of the damage done in previous years. Reeves told spending cuts will 'repeat the mistakes of the past' Nevertheless, she described years of Conservative rule as a "a destructive choice for our public services and for investment and growth too", forcing the current government to consid...