Chancellor confirmed welfare cuts of £4.8bn in spring statement, but insisted the priority was to restore stability to the public finances Good morning. Day two after a budget-type event is when the most insightful analysis tends to come out, and this morning the two heavyweight public spending thinktanks, the Resolution Foundation and the Institute for Fiscal Studies, are delivering their considered verdicts. And Rachel Reeves is doing interviews now defending her decisions.Here is our overnight splash about the spring statement.You’re going to have to come back for more. You’re going to have to come back for more cuts or tax rises in the autumn. That’s the truth, isn’t it?What I’m saying is that there are loads of things that this government are doing that are contributing to growth. And the Office of Budget Responsibility said yesterday that the planning reforms, the national policy planning framework, which enables us to build, for example, on grey belt land, enables building to happen more quickly, will add £6.8bn to the size of our economy by the end of this parliament. And we’ll add £3.4bn to our public finances.That shows if we go further and faster on delivering economic growth with our planning reforms, with our pensions reforms, with our regulatory reforms, we can both grow the economy and have more money for our public services. And that is what I’m focused on. Continue reading…
Source link : https://www.theguardian.com/politics/live/2025/mar/27/spring-statement-rachel-reeves-labour-benefit-cuts-growth-keir-starmer-uk-politics-latest-news
Author : Andrew Sparrow
Publish date : 2025-03-27 08:07:00
Copyright for syndicated content belongs to the linked Source.
Rachel Reeves denies further tax rises likely in autumn after spring statement – UK politics live
