Politics
Unveiling the Fiscal Abyss: Chancellor Reeves Exposes £20bn Deficit and Plans for Economic Recovery
Are the coffers truly empty?
Monday, July 29, 2024, 21:40, UK
Chancellor Rachel Reeves has identified a shortfall exceeding £20 billion in the public finances, which she attributes to the mismanagement of her predecessors.
In the House of Commons, she detailed her strategy to tackle the budget deficit by reducing expenditures, while shadow chancellor Jeremy Hunt criticized Labour for preparing the way for a reversal on planned tax increases in the upcoming October budget.
In today's episode of Sky News Daily, host Liz Bates teams up with deputy political editor Sam Coates to explore Labour's communication regarding the public financial situation, and delves into the details of the figures with our business correspondent Paul Kelso.
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