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UK to reveal £20bn hole in public finances: reports
Britain’s new Labour government will announce next week that the country’s public finances have an additional hole of around £20 billion ($26 billion), risking tax rises in an upcoming budget. Finance minister Rachel Reeves will make a statement on Monday having ordered Treasury officials to provide a spending audit following her centre-left party’s general election victory this month, the Financial Times and other UK media said Friday. They added that Reeves, appointed chancellor of the exchequer by Labour leader and Prime Minister Keir Starmer, will also confirm that her first budget will be in October. The ... (full story)
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- Posted: Jul 27, 2024 11:57pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,926
