Reeves vows no return to austerity ahead of crunch UK budget

Quick Summary:

LONDON: The United Kingdom’s new Labour government won’t return to the austerity cuts of its Conservative predecessors, Chancellor of the Exchequer Rachel Reeves says, as she pivots towards a more positive narrative after weeks of warning about the dire state of the public finances.

Reeves has already announced measures to address the budgetary hole, including a deeply unpopular decision to cut winter fuel allowance to about 10 million pensioners.

Her stark warnings on the state of the public finances have coincided with a decline in consumer confidence, which has prompted calls for her to strike a more upbeat tone.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustraliaUnited Kingdom

Topics: Economic /Business/Business News Budget Economy UK Investment

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 00:00:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 680 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22672663

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Official Website: thestar.com.my

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Year Established: 1971

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News Last Updated: 8 hours ago

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