Rachel Reeves has outlined a fresh set of cuts to government spending without raising taxes, blaming a dramatic slowdown in growth.
The chancellor faced a major setback in the hours before delivering her spring statement when the government’s official spending watchdog rejected its forecasts for how much its welfare cuts would save. That prompted the Office for Budget Responsibility (OBR) to slash its economic growth forecast for this year from 2 per cent to 1 per cent.
