Spring statement: Rachel Reeves announces deep cuts to welfare and public services
by Richard Partington from on (#6W690)
Chancellor reveals halving of forecast UK growth this year and extra defence spending
Rachel Reeves has confirmed deep cuts to welfare and public services offset by billions of pounds in long-term investment to grow the economy, as she delivered a spring statement to ensure her fiscal targets are still being met.
In a statement to the Commons which revealed the UK growth forecasts for this year had been halved, the chancellor said her measures would ensure a predicted 4.1bn hole in the public finances within five years would be turned back into a 9.9bn surplus.
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