Reeves Set to Promise to ‘Fix the Foundations’ of Britain’s Economy
- Chancellor attempts to carve narrative of dire inheritance
- Reeves will announce date for budget and reforms to save money
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UK Chancellor Rachel Reeves will promise in a speech on Monday to “fix the foundations” of the British economy as she seeks to expose the spending squeeze she inherited.
Reeves will accuse the previous administration, led by Rishi Sunak and Jeremy Hunt, of “covering up the true state of the public finances” by overseeing a near £20 billion ($26 billion) shortfall for public services. She’ll announce the establishment of a new “office of value for money” to clamp down on wasteful public spending, including the non-essential hiring of external consultants.