Source: International Business Times
Finance minister Rachel Reeves will deliver a highly anticipated fiscal update on Wednesday AFP Britain's Labour government will deliver a highly anticipated fiscal update on Wednesday, with finance minister Rachel Reeves expected to detail billions of pounds of spending cuts to address the country's struggling economy. Under the pressure of a gloomy economic outlook, Reeves will reveal her Spring Statement, setting out plans to shore up the public purse including cuts to welfare payments and government departmental budgets. Labour announced ahead of the update that it would slash the costs of running government by 15 percent over the next five years, targeting annual savings of over GBP2 billion ($2.
