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Reeves plans new austerity as government debt rises
Unite general secretary Sharon Graham calls for wealth tax
Chancellor of the Exchequer Rachel Reeves during a press conference following her statement to the House of Commons on the findings of the Treasury audit into the state of the public finances, July 29, 2024
MORE austerity is on the agenda as Chancellor Rachel Reeves prepares a new clampdown on public spending in her autumn Budget.
In a move that risks sparking new divisions and struggle within the labour movement, Ms Reeves is set to prioritise reassuring global money markets over repairing the damage done by the Tories.
She is reported to have been spooked by figures showing public sector borrowing at £3.1 billion in July, £1.8bn more than a year previously and above most expectations.
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