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Chancellor Rachel Reeves giving a speech at the Treasury in London, July 8, 2024
CHANCELLOR Rachel Reeves took aim at vulnerable pensioners as she heralded a new raft of cuts today, aimed at plugging a £22 billion black hole in public finances this year.
After a snap audit, Ms Reeves accused the previous Tory government of “covering up” the true state of the public’s finances, despite the Institute for Fiscal Studies issuing a stark warning ahead of the general election.
Paving the way for a prolonged era of austerity, the Chancellor warned of “difficult decisions" across spending, welfare and tax in the autumn Budget, which will take place on October 30.
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