UK’s first female chancellor braces for wave of cuts – Public Finance

The new Labour government in the UK is preparing the next budget and on the table is a A strict plan to cut public spendingin the format of what is England’s first female Chancellor of the Exchequer, Rachel Reeves.

According to the Guardian newspaper, Keir Starmer’s ministers have been ordered to continue with cost-cutting reforms. And getting ready for making tough decisions In terms of public spending.

According to the British newspaper, Darren Jones, from the office of Minister Rachel Reeves, wrote to members of the Cabinet ordering them to find… Repairs and implementation of technologies that can save money.

The letter also warns that priority will be given only to funding the “first actions” announced by Keir Starmer during the election campaign – reducing NHS waiting lists, launching new health rules, border security and teacher recruitment.

All spending requests will be analysed by the new “mission board” that the government has already set up. Although sources contacted by the Guardian do not say whether different departments will be asked to make direct cuts, the request for proposals for reform and innovation certainly suggests that some areas will have to deliver the same services with less budget available.

“A Labour government will have to make difficult decisions about where to spend the money because of the state of the public finances left behind by the Conservatives,” a government source told the Guardian, stressing that the aim of Starmer’s finance minister and executive, Ratches Reeves, is to “Make the tough decisions now, to set the foundations and fulfill the mandate for change.” Which they were elected for.

The Finance Minister has already made it clear that she is. Plans to raise taxes and make tough decisions on Social Security And spending, in what will be a crucial autumn for the new Labour government. Reeves will deliver his first budget and the spending review that will set the budgets of the various departments for this year and next.

Reeves had already surprised the public last month by ending pensioners’ winter fuel subsidies, as part of plans to address what he describes as a crisis. £22 billion black hole spending.

According to the Guardian, the new finance minister will have to cut, in addition to £22 billion, Another 16 billion to balance the accounts For the UK this year.