Rachel Reeves
Chancellor of the Exchequer
Rachel Reeves
Chancellor of the Exchequer
Reeves Proposes Deep Spending Cuts Amid Global Economic Uncertainty
- Friday, 07 March 2025
Rachel Reeves' proposed spending cuts will trigger significant political arguments. The cuts confirm that the Office for Budget Responsibility (OBR) believes the Chancellor's "headroom" has been eliminated, eliminating any leeway before breaking self-imposed borrowing rules. The government attributes this to global factors such as President Trump's tariffs and inflation, while the Conservatives argue that rising borrowing costs predated Trump's presidency and tax rises in the October Budget stunted growth.
