The UK government has just revealed new plans to cut public spending as it needs to fill a gaping fiscal hole, after the lack of economic growth and the increased cost of borrowing are eating into state revenue.
Britain's Treasury chief Rachel Reeves said that "final adjustments" to the already announced cuts in the welfare system would save £4.8 billion (€5.74bn). She was addressing Parliament about the state of public finances in her Spring Statement on Wednesday.
