Rachel Reeves will on Monday detail the results of an audit of the country’s finances, setting out plans to start filling a £20bn black hole she says her party has discovered since arriving in government. The chancellor will insist the true state of Labour’s economic inheritance was “covered up” by her predecessors, necessitating unexpectedly difficult decisions now.
Reeves is expected to announce delays to certain infrastructure projects, as well as measures to cut spending elsewhere in Whitehall. Labour insiders insist infrastructure remains a huge priority for the government, but it will face criticism that Britain’s long-term economic growth outcomes were dependent on such schemes.
