UK Benefit Costs 'Not Sustainable' Says Rachel Reeves (Full Interview)
March 18, 2025
10,214
127
280
3.98%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Bloomberg Podcasts Episodes Around March 18, 2025
See what was published immediately before and after this episode.
6:06Now PlayingUK Benefit Costs 'Not Sustainable' Says Rachel Reeves (Full Interview)
YouTube Description
as posted by the channelRachel Reeves has defended her fiscal rules and pledged to bring down government borrowing, as the UK Chancellor of the Exchequer faces dissent from Labour party colleagues opposed to cuts to welfare payments and government spending.
Reeves is up against internal pressure from Labour MPs and some Cabinet colleagues to soften her fiscal stance to avoid spending cuts, particularly in the sensitive area of welfare. A reduction in the welfare budget is expected, to stabilize the public finances, with Work & Pensions Secretary Liz Kendall set to unveil plans on Tuesday to cut social security spending by as much as £6 billion to encourage more people to work.
“We need to reform the benefits system,” Reeves said, citing an extra 1,000 people signing on every day for personal independence payments — a benefit for the long-term sick or disabled. “That is not sustainable, and those people are often trapped out of work on welfare, not being able to realize their potential.” Rachel Reeves spoke to Bloomberg TV's UK Correspondent Lizzy Burden.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.