Rachel Reeves' Spring Statement included welfare cuts, tax evasion crackdown and OBR forecast.
Don’t call it a Budget, but Reeves has just delivered her Spring Statement to the House of Commons. The Office for Budget Responsibility (OBR) has slashed its growth forecast in half to one per cent as Chancellor Rachel Reeves said she was “not happy” about the revised figures. Reeves has insisted that high growth is key to Labour’s mission in government, while Prime Minister Keir Starmer has previously suggested that it is aiming for a rate of 2.5 per cent. Additionally, the Chancellor also announced further cuts will be made to Britain’s welfare bill – but only save the government £3.4bn rather than the £5bn originally thought. Click the link in our bio to read more of the story 🔗 #news #politics #economy #economics #uk #uknews #ukeconomy #ukpolitics #keirstarmer #rachelreeves #melstride #labour #labourparty #springstatement #springbudget #budget #welfare #pip #finance #financialnews #personalfinance #money #tax