Chancellor on course to tighten Whitehall budgets further due to worsening economic outlook
Tuesday, 7 January 2025 Rachel Reeves is on course to tighten Whitehall public service budgets further than expected in the spending review because of the worsening economic outlook, Sky News can reveal.
Chancellor Rachel Reeves is coming under increased pressure to raise taxes or cut public spending as official figures show government borrowing was more.. Sky News
The chancellor says the government is ready to support creative industries, after announcing film studios in England are to receive business rates relief for the next nine years. On a visit to the Warner Bros Studio in Leavesden, Rachel Reeves adds "that's something that this government wants to get behind to back growth and back British workers". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says she is "absolutely committed" to spending 2.5% of GDP on defence and will "set out a pathway" to do so "in the proper way". The chancellor adds, "a strong economy depends on strong defences". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The shadow chancellor of the exchequer has defended the previous government for the rise in inflation, instead blaming Chancellor Rachel Reeves' budget and other government decisions, including increased spending and borrowing. Mel Stride's comments come after government ministers pointed blame at the previous Conservative government after new data from the Office for National Statistics estimated that the rate of UK inflation rose from 2.5% in December to 3% in. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Conservatives have said that the "disappointing" rise in inflation is a cause of worry. Kevin Hollinrake, Shadow Levelling Up Secretary, said the 0.5% rise in inflation from December to January was a direct result of Rachel Reeves' budget. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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Tuesday, 7 January 2025
Rachel Reeves is on course to tighten Whitehall public service budgets further than expected in the spending review because of the worsening economic outlook, Sky News can reveal.
![Chancellor: Govt is ready to support creative industries [Video]](https://video.newsserve.net/300/v/20250220/1402802338-Chancellor-Govt-is-ready-to-support-creative-industries.jpg)
![Govt 'committed' to raising defence spending to 2.5% of GDP [Video]](https://video.newsserve.net/300/v/20250220/1402802388-Govt-committed-to-raising-defence-spending-to.jpg)
![Tories: We're not to blame for rise in inflation [Video]](https://video.newsserve.net/300/v/20250219/1402693586-Tories-We-re-not-to-blame-for-rise.jpg)
![Tories: We should be worried about 'disappointing' inflation [Video]](https://video.newsserve.net/300/v/20250219/1402678962-Tories-We-should-be-worried-about-disappointing-inflation.jpg)
