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The Independent UK
The Independent UK
Millie Cooke and Archie Mitchell

Austerity fears grow as Reeves plans major spending cuts in spring statement

Liz Kendall Rachel Reeves Bank of England

There are growing fears that Britain will be plunged back into austerity, as Rachel Reeves prepares to unveil a swathe of spending cuts at next week’s mini-Budget.

The chancellor is set to deliver her spring statement next Wednesday, against the backdrop of a faltering economy and reduced headroom when it comes to the strict borrowing rules she set herself in October.

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