UK's first female finance minister braces for cuts – Public Finance

The new UK Labor government is preparing the next budget A drastic plan to cut public spendingCoordinated by what Rachel Reeves is the UK's first female Chancellor of the Exchequer.

According to the Guardian, Keir Starmer's ministers have been ordered to press ahead with austerity reforms And to prepare To make difficult decisions Based on public expenditure.

According to the British newspaper, Darren Jones, from the office of minister Rachel Reeves, wrote to cabinet members ordering them to be found. Implementing reforms and money-saving technologies.

The letter also warns that the “first measures” announced by Keir Starmer during the election campaign – reducing National Health Service (NHS) waiting lists, new health rules, border security and teacher recruitment – will only be prioritized.

All expenditure requests will be analyzed by a new “Mission Council” already created by the English government. While sources contacted by the Guardian did not say whether different ministries were directly asking for cuts, the request for recommendations for reforms and innovations suggests some areas need to provide the same services with less budgets.

“The Labor government will have to make tough decisions about where to spend the money because of the state of the public finances left by the Conservatives,” a government source told the Guardian, emphasizing the intent of Starmer's administration and finance minister Rachaus Reeves. is”Take the tough decisions now, fix the foundations and execute the mandate for change” They were chosen for that.

The Finance Minister had already clarified that Plan to raise taxes and make tough social security decisions and spending, will be a critical fall for the new Labor government. Reeves will present his first budget and a spending review that will define the budgets of various ministries for this year and next.

Reeves has already been surprised by the suspension of support for pensioners for winter fuel, which is part of the plans he describes. A black hole that costs £22 billion.

According to the Guardian, the new finance minister wants to cut an additional £22 billion. Another 16 billion to balance the accounts of the United Kingdom this year.