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Rachel Reeves: Labour cutting winter fuel payments after inheriting projected overspend of £22bn
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July 29, 2024
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2:58Now PlayingChancellor Rachel Reeves says Labour have inherited a "projected overspend" of £22bn on public finances from the previous government.
She told the House of Commons that the Conservative Party "covered up" the hole, and "ducked difficult decisions" knowing the money was not available.
Several of the previous government's planned initiatives have been scrapped, alongside cuts to winter fuel payments for pensioners. Labour's first budget will be held on 30 October.
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