Labour warned £22bn shortfall will last years without higher taxes or cuts

The chancellor, Rachel Reeves, claims the Tories covered up £22bn worth of unfunded public spending before the July election, although they deny this. Photograph: Jonathan Brady/AP

Rachel Reeves has been warned that most of the £22bn shortfall in the public finances Labour claims was covered up by the Conservatives will continue to hang over the government by the end of the decade.

In a downbeat report before the chancellor’s budget later this month, the Resolution Foundation said as much as £19bn of the shortfall would persist until 2029-2030 unless Reeves took action to raise taxes or cut spending.