Public Finance United kingdom They have a $28 billion gap they inherited from Conservative PartyThe British Minister said yesterday Economythe job Rachel Reeves.
“We have inherited £22 billion of planned overspending this year. [28 mil millones de dólares]…covered up by the opposition party minister exhaustionThis came after his party ended the 14-year Conservative rule on July 4.
If left untreated, it will only increase 25% “We are in deficit this year,” he told lawmakers, citing a detailed budget review. General accountsHe added that his first budget will be presented on October 30.
“Today I will outline the urgent and necessary work I have already done to reduce this pressure on the country’s public finances. 5.5 billion pounds This year and more than 8 billion next year.”
Reeves said the scale of overspending was “unsustainable” and failure to act was “not an option” for Labour Prime Minister Keir Starmer’s new government. “The audit of the new government’s accounts shows that,” he said. United kingdom The British Prime Minister’s Office said the matter was “devastating”.
Former Executive Led Conservatives Rishi Sunak, The finance minister, the country’s first woman to hold the portfolio, added that she “avoided difficult decisions” and “put the party before the country.”
The upcoming budget will seek to “fix the foundations of our economy,” Reeves said, adding that it will also launch a multi-year spending review to set departmental budgets for three years.
he Conservative Party, However, he rejected Labor’s claims and claimed that the new government was using this financial assessment to lay the groundwork for tax increases.
During the election campaign, Labour promised not to raise major taxes on workers. Deficit in the United Kingdom It amounted to about $152 billion in 12 months.
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