Rachel Reeves’s summer statement was a juggling of the welfare cut, summary, changing between Whitehall, caused the treasury described as bullets with tables.
Chancellor, which is in the spotlight on Wednesday, allowed these strangers to set these strangers over the tax and spend a broader context: As a condition to restore Britain.
Reeves reminded that Liz Truss was a shot of Liz Truss in 2022; And rightly, the picture resulting in debt expenses for the largest economy stressed the global context.
The rules, he said, “The embodiment of the unshakable obligation to bring this government to the economy,” he said. He added to his critics: “There is nothing progressive, there is no labor, there is nothing about people who pay for economic irresponsibility.”
There were cuts for welfare – the budget liability was confused at the last moment after rejecting the starting costs of the office (OBR) office (OBR).
As expected, the OBR reduced the forecast for economic growth to 1% to 1% for this year, and it can be a constant gear for Britain’s productivity.
However, Reeves were able to point the light of hope. OBB assessed the planning reforms of labor, one of the most popular policy of the government, and the estimates will increase by 0.2% during the five-year forecast period. In fact, it is expected that the economy is expected in October for five years.
He also tried to prepare a positive situation for the spending of protection, emphasizing that the government spends defense, the government’s Portsmouth, and allowed the opportunities from Portmouth and the opportunities from new technologies.
While terrifying many Labor cultivals, the defense will be more investment – and the Chancellor itself allows for investment.
According to this slip, Reeves, it was able to say that capital expenditures would be higher than expected in October.
Critics complain that Reevs are not a consistent economic philosophy. To the extent, this has long been the main explanation of Ukraine’s UK.
In October, the adopted spacer owed to prevent the deepening of investment expenditures that prone to previous chancellor’s time: “Tory option.”
Reeves’s “stability rule” is more than a difficulty, which is hardened by the day and balancing books, and the next part of the forecast period has budgets. Now the OBR will increase the expenditures of departments in 2026-27 in 2026-27 in 2026-27 years.
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This helps to explain the fall budget more slowly than expected than 0.1 percentage and already connected to the June spending review of dinner.
Reeves stressed 3.25 billion TL “Transformation Fund”, which can offer to finance projects that increase productivity to reduce its expenses in the coming years.
This approach has a number of logic. Part of the fund, for example, the government, for example, the government will help the PACKINGES in the civil service as they try to slash admin expenses; It can also be used to make more relevant to work for better work. However, spending will not be easy in public services for years.
In this unusually indefinite time, Reeves created a fair fist to justify financial caregifications, as Gordon Brown used to call him. Again, prosperity cuts – designed to add amounts – will leave a long shade.
Like OBB’s clear, the outlook for the coming months is very uncertain. Since October, the expenses of the debt, the Obreves, as he left the financial regulations, warned that 10 billion pounds were reshaped in the global trade war.
He then returned in the fall, and a little less rich in taxes.
