{"id":206922,"date":"2024-07-29T14:28:11","date_gmt":"2024-07-29T11:28:11","guid":{"rendered":"https:\/\/www.arabtelegraph.com\/?p=206922"},"modified":"2024-11-21T22:32:10","modified_gmt":"2024-11-21T20:32:10","slug":"new-uk-finance-minister-rachel-reeves-to-accuse-last-government-of-multibillion-pound-cover-up","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=206922","title":{"rendered":"New UK finance minister Rachel Reeves to accuse last government of multibillion-pound \u2018cover-up\u2019"},"content":{"rendered":"\n<p dir=\"ltr\"><strong>LONDON &#8211; Arabtelegraph <\/strong>\u2013 Britain\u2019s new Finance Minister Rachel Reeves will accuse the former Conservative government on July 29 of committing to billions of pounds of spending that has not been properly budgeted for.<\/p>\n\n\n\n<p>Elected to run the world\u2019s sixth-largest economy in&nbsp;<a href=\"https:\/\/www.straitstimes.com\/world\/europe\/uks-labour-to-win-massive-election-majority-exit-poll-shows\" target=\"_blank\" rel=\"noreferrer noopener\">a landslide victory on July 4,<\/a>&nbsp;Labour has spent much of its first three weeks in power telling the public that things are worse than expected in almost every area of public policy.<\/p>\n\n\n\n<p dir=\"ltr\">On becoming Finance Minister, Ms Reeves ordered officials to conduct a fresh assessment of public funding needs which she will present to Parliament on July 29 and use to set the stage for her first formal budget statement later in 2024.<\/p>\n\n\n\n<p dir=\"ltr\">Labour Party sources said on July 26 that this assessment had found a shortfall of around \u00a320 billion (S$34.5 billion), and on July 27 Prime Minister Keir Starmer\u2019s office said it would \u201cshow that Britain is broke and broken\u201d.<\/p>\n\n\n\n<p dir=\"ltr\">Late on July 28, the Finance Ministry said the audit would show \u201cthe previous government overspent this year\u2019s budgets by billions of pounds after making a series of unfunded promises\u201d.<\/p>\n\n\n\n<p dir=\"ltr\">Ms Reeves will also announce a new Office of Value for Money, a crackdown on government waste, reduced use of external consultants and a sell-off of unused government property, the Finance Ministry said.<\/p>\n\n\n\n<p dir=\"ltr\">In her planned speech to Parliament, Ms Reeves says: \u201cThe previous government refused to take the difficult decisions. They covered up the true state of the public finances. And then they ran away.\u201d<\/p>\n\n\n\n<p dir=\"ltr\">Britain\u2019s Conservatives dismissed these accusations as a pretext by Labour to raise taxes, after the centre-left party had ruled out raising the rates of income tax, value-added tax and other main taxes during the election campaign.<\/p>\n\n\n\n<p dir=\"ltr\">Budget forecasts in March were signed off by the independent Office for Budget Responsibility (OBR), although there was widespread reporting of funding challenges in areas such as prisons and healthcare.<\/p>\n\n\n\n<p dir=\"ltr\">\u201cRachel Reeves is trying to con the British public into accepting Labour\u2019s tax rises. She wants to pretend that the OBR&#8230; whose forecasting was used in all of the last Conservative government\u2019s budgets, doesn\u2019t exist,\u201d said Mr Gareth Davies, a Conservative lawmaker who speaks for the party on budget policy. <strong>REUTERS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LONDON &#8211; Arabtelegraph \u2013 Britain\u2019s new Finance Minister Rachel Reeves will accuse the former Conservative government on July 29 of committing to billions of pounds of spending that has not been properly budgeted for. Elected to run the world\u2019s sixth-largest economy in&nbsp;a landslide victory on July 4,&nbsp;Labour has spent much of its first three weeks &hellip;<\/p>\n","protected":false},"author":3,"featured_media":206923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[263],"tags":[],"class_list":["post-206922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-telegraph-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New UK finance minister Rachel Reeves to accuse last government of multibillion-pound \u2018cover-up\u2019 - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.arabtelegraph.com\/?p=206922\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New UK finance minister Rachel Reeves to accuse last government of multibillion-pound \u2018cover-up\u2019 - Arab Telegraph\" \/>\n<meta property=\"og:description\" content=\"LONDON &#8211; Arabtelegraph \u2013 Britain\u2019s new Finance Minister Rachel Reeves will accuse the former Conservative government on July 29 of committing to billions of pounds of spending that has not been properly budgeted for. Elected to run the world\u2019s sixth-largest economy in&nbsp;a landslide victory on July 4,&nbsp;Labour has spent much of its first three weeks &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.arabtelegraph.com\/?p=206922\" \/>\n<meta property=\"og:site_name\" content=\"Arab Telegraph\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/aliarabtelegraphhttps:\/\/m.facebook.com\/ali.aed2https:\/\/www.facebook.com\/aliarabtelegraph:\/\/www.facebook.com\/https:\/\/www.google.com\/?hl=ar\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/aliarabtelegraphhttps:\/\/m.facebook.com\/ali.aed2https:\/\/www.facebook.com\/aliarabtelegraph:\/\/www.facebook.com\/https:\/\/www.google.com\/?hl=ar\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-29T11:28:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-21T20:32:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2024\/07\/On-becoming-finance-minister-Ms-Rachel-Reeves-ordered-officials-to-conduct-a-fresh-assessment-of-public-funding-needs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"183\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Arab Telegraph\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/aligazette\" \/>\n<meta name=\"twitter:site\" content=\"@aligazette\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"Arab Telegraph\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"\u062f\u0642\u064a\u0642\u062a\u0627\u0646\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922\"},\"author\":{\"name\":\"Arab Telegraph\",\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/#\\\/schema\\\/person\\\/b796bd29af18bedbb5ec003a20ada50d\"},\"headline\":\"New UK finance minister Rachel Reeves to accuse last government of multibillion-pound \u2018cover-up\u2019\",\"datePublished\":\"2024-07-29T11:28:11+00:00\",\"dateModified\":\"2024-11-21T20:32:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922\"},\"wordCount\":382,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/#\\\/schema\\\/person\\\/b796bd29af18bedbb5ec003a20ada50d\"},\"image\":{\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.arabtelegraph.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/On-becoming-finance-minister-Ms-Rachel-Reeves-ordered-officials-to-conduct-a-fresh-assessment-of-public-funding-needs.jpg\",\"articleSection\":[\"Arab Telegraph News\"],\"inLanguage\":\"ar\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922\",\"url\":\"https:\\\/\\\/www.arabtelegraph.com\\\/?p=206922\",\"name\":\"New UK finance minister Rachel Reeves to accuse last government of multibillion-pound \u2018cover-up\u2019 - 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