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After a statement of hard cuts, chancellor is keen to shift focus to new investments and projects
The Guardian
|June 04, 2025
Rachel Reeves's spring statement in March ended up being defined by deep cuts to disability benefits.
Rachel Reeves's spring statement in March ended up being defined by deep cuts to disability benefits. The Treasury hopes next week's spending review will be remembered for the chancellor's largesse.
Her team have consistently been frustrated that despite announcing tax increases worth £40bn a year by the end of the parliament and radically rewriting the fiscal rules, Reeves has failed to win much political credit for unlocking additional investment.
The Treasury argues that its plans amount to more than £100bn in additional capital investment over the next five years, compared with what her predecessor Jeremy Hunt expected to spend.
This story is from the June 04, 2025 edition of The Guardian.
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