Reeves' Spring Forecast expected to trigger billions in spending cuts - reports

Planning for ways to spend less

Chancellor Rachel Reeves could cut billions of pounds from government spending, including on welfare, in the upcoming Spring Statement, as she tries to stick to her own spending and borrowing rules.

Reeves' fiscal rules leave her unable to borrow for day-to-day spending, so she is expected to be planning ways to spend less, according to reports by Sky News. The Office for Budget Responsibility is due to receive HM Treasury's proposed cuts on 26 March, before the OBR's financial forecast is released, to coincide with Reeves' Spring Forecast. According to Sky News, to help the chancellor come within her borrowing limit, there will be a "four-point plan" involving planning reform, Whitehall cuts, regulation cuts and welfare cuts. Rachel Reeves sets date for 'Spring Forecast' next...