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current spending plansTelegraph
•66% Informative
Rachel Reeves is preparing to unveil a 19bn black hole in the public finances.
She has asked Treasury officials to prepare an assessment of the “spending inheritance” left by the Tories .
Ms Reeves is expected to blame pressures on the NHS , prisons and schools for the funding gap.
She is also expected to announce the date for her first Budget next week .
The International Monetary Fund (IMF) warned in May that the Chancellor would have to push through 30bn of spending cuts or tax rises to stabilise the debt burden because current spending plans of 1pc above inflation were unrealistic. An HM Treasury spokesman said: “The Chancellor has commissioned officials to provide an assessment of the state of the government’s spending inheritance which will be presented to Parliament before the summer recess.”.
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