Everything you need to know about Rachel Reeves £5.5 billion public spending cuts

Rachel Reeves announced spending cuts worth £5.5bn as the new government seeks to address a £22bn blackhole in the public finances.

In a statement to the House of Commons, the Chancellor said the “inheritance from the previous government is unforgivable”.

“They spent like there’s no tomorrow because they knew someone else would pick up the bill,” she said.

For more on the story 👇

Get more of City A.M. 👇

Produced by: Joe Lee, Chris Dorrell, Larissa Howie

#politics #ukpolitics #politicsnews #rachelreeves #economy #ukeconomy #news #trendingnews #newsexplained #explainer #westmminster #labourparty #costofliving

[Dazzy]

How about stop all the handouts to immigrants and foreign aid. Sort your own house out before helping others.

[caddyvw]

Stop sending billions to other countrys!!!! That will be a spending cut!

[Deadpool_collector]

6 billion on illegal immigrants... thats where you start, not hurting elderly retired folks

[grahampritchard]

Spin, lies, deceit, taking from pensioners to give to union supporters in the public services.😱

[valholmes]

2:24 con artists need to get kicked out a s a p

[dannymiester]

Liebour, we are all screwed now, cant believe people voted for them

[mercedesvan-doors]

They all knew, they all voted for the spending and indeed more. Where did they think all the PPE and injections and endless handouts though C19 came from? remember we were handing out free laptops to students so they could work from home, thousands of them and this is just one example. Fun fact, other peoples money ran out, Now we the public will be asked to pay it back!!

[nicholasstokes]

Same old story. Same old pile it on Joe Public.

[Calm-locket]

Starmer said whilst campaigning, Pensioners have nothing to fear from me. Liar!!!

[roadracermark]

"Same old, same old" blame the previous government and then give themselves a massive payday. We're tired of this shit.

[surak]

This is bull, there's no black hole, they announce spending for 20 bill then say oh look we are 20 bill out of pocket...blame the Tories. anyone can get the figures from the ONS, or do they think were to stupid to know.

[donnydarko]

Thanks from all pensioners for your cut in cold weather payments. Only three odd weeks in power, and here we go! Typical Liebour.

[manoo]

Complains about a £22Billion black hole (which she knew about before the election!) but goes on to announce tens of £Billions squandered on worthless spending!!

[jmw-qtih]

As far as I am concerned the entire cost of this illegal migration issue should come from the foreign aid budget.

[wayne]

How many wages of ex prime ministers are we still paying, thats a good few million right there and thats without the security we are paying for like with tony bliar in his kensington mansion

[davidcoard]

Any practical and legal suggestions on how to rid ourselves of this Regime?

[ezkdsyf]

All this to pay government employees, it's a wonder she hasn't given herself a pay rise, on top of fiddling her expenses .
Starmers pensions is so well protected he has legislation to make sure he's well off on retirement, 5.5 billion spending cuts to justify their lavish lifestyles, at the expense of hard working people and pensioners. Well hope all labour voters are happy now..

[garyowen]

Typical Liebour . 'it wasnt us and you cant prove it'

[moxiesaint-clare]

Those cuts won't include MP wages or expenses, their second mortgage, or ex prime minister who still receive prime minister wages.

[peaceloveandunity]

Wait a minute didn't her boss just give Ukraine 6 billion a year, don't that account four 24 billion over the next 4 years.