Chancellor Rachel Reeves on Monday set out a series of “incredibly tough choices” to fill in a £22bn fiscal hole she claims she inherited from the Conservatives, as she paved the way for Budget tax rises in the autumn.
Reeves announced emergency savings, including a £1.5bn cut to winter fuel payments for better-off pensioners, the axing of road and hospital schemes and the dropping of plans to cap social care costs.
But she said this would not be enough, confirming that a Budget on October 30 would be painful. A multiyear public spending review would take place at the same time, she added.
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