The Chancellor has said that 'difficult decisions' were needed to fill what she claims is a £22bn black hole in the public finances
The Chancellor has said that 'difficult decisions' were needed to fill what she claims is a £22bn black hole in the public financesShe said the last Government had “covered up” the state of the public finances, leaving a £22bn “black hole”, as sheMs Reeves warned that a Budget to be held on 30 October would involve more “difficult decisions” – paving the way forthat “I don’t want to increase taxes on working people”, but added: “The truth is we did not know about this...
Almost half of the additional pressure on Government budgets came as a result of Ms Reeves’s decision to offer millions of public-sector workers such as doctors, teachers and soldiers a pay hike of more than 5 per cent. Ms Reeves said she would make £5.5bn of savings this year and £8.1bn next, by limiting eligiblity for winter fuel payments, scrapping a proposed cap on social care costs and abandoning some transport infrastructure projects.
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