Reeves confirms Budget spending deals struck with all departments

Published On Oct 23, 2024, 12:30 AM

Chancellor Rachel Reeves has successfully negotiated spending settlements with all government departments in preparation for her upcoming Budget on October 30. Despite facing challenges due to past financial mismanagement and pressure for further savings, she emphasized the need for budget cuts and fiscal responsibility. Reeves acknowledged the tension within the Cabinet over the cuts necessary to meet a £40 billion savings target, while reaffirming Labour’s commitment to protect working people from tax hikes on income, national insurance, or VAT. She hinted at potential tweaks to other taxes but stressed the long-term challenge of repairing public services impacted by years of austerity.