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Rachel Reeves warns ministers of cuts as 'every pound' of government spending to face review


Published on 2024-12-10 04:00:48 - The Independent
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  • In letters sent by Chief Secretary to the Treasury Darren Jones, departments will be told 'difficult' spending decisions will be required.

Rachel Reeves, the UK's first female Chancellor, has announced a comprehensive review of government spending to address inefficiencies and ensure value for money. In her first major speech since taking office, she emphasized the need for a "new approach" to public finances, focusing on economic growth and stability rather than immediate tax cuts. Reeves highlighted that the government's books are in a worse state than anticipated, with public services under strain and economic growth lagging. She plans to scrutinize all major capital projects, potentially scaling back or canceling those not delivering value, and aims to foster a partnership with the private sector to boost investment. Reeves also committed to maintaining fiscal discipline while addressing critical issues like housing, infrastructure, and public sector pay, promising a detailed plan in the upcoming autumn statement.

Read the Full The Independent Article at:
[ https://www.independent.co.uk/news/uk/politics/rachel-reeves-chancellor-government-spending-budget-b2661566.html ]