* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, August 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

New UK government cuts billions of pounds of spending to fix ‘unsustainable’ public finances

July 29, 2024
in Business
New UK government cuts billions of pounds of spending to fix ‘unsustainable’ public finances
Share on FacebookShare on Twitter

By David Milliken and Kylie MacLellan

LONDON (Reuters) – Britain’s new finance minister, Rachel Reeves, on Monday announced spending cuts worth more than 13.5 billion pounds ($17.3 billion) over the next two years to help plug what she said was a 22 billion pound overspend caused by the last government.

Reeves said she would present a full budget on Oct. 30, the first by the newly-elected Labour government, and said it would include further “difficult decisions” including on tax.

The new government has also accepted independent recommendations on increasing pay for state workers such as teachers and healthcare staff at a cost of 9 billion pounds.

In a statement seen by critics as an attempt to pave the way for future tax rises, Reeves accused the former Conservative government of covering up the true state of government spending and said she needed to make difficult decisions to prevent the budget deficit ballooning by 25% this year.

“This level of overspend is not sustainable. Left unchecked, it is a risk to economic stability,” Reeves told parliament. “It therefore falls to us to take the difficult decisions now to make further in year savings.”

She set out cuts to a range of projects to build roads and restore railways and said the government would review a scheme to rebuild hospitals. She also said she would stop higher-income pensioners from receiving an annual payment for heating costs.

Elected to run the world’s sixth-largest economy in a landslide victory on July 4, Labour has spent much of its first three weeks in power telling voters that things are worse than expected in almost every area of public policy.

Reeves commissioned the review of the public finances upon taking office.

“They gave false hope to Britain when people were already being hurt by their cost of living crisis. The inheritance from the previous government is unforgivable,” she said.

“They promised solutions that they knew could never be paid for: roads that would never be built, public transport that would never arrive, hospitals that would never treat a single patient.”

The Conservatives dismissed her accusations as a pretext for Labour to raise taxes.

“Today’s exercise is not economic, it’s political. She wants to blame the last Conservative government for tax rises and project cancellations she has been planning all along,” said Jeremy Hunt, who was finance minister in the Conservative government.

Some economists have also expressed scepticism, saying Labour could have foreseen most big pressures on spending before taking office.

Reeves stressed that she intends to stick to her party’s election campaign commitments not to raise the rates of income tax, value-added tax and other main taxes.

© Reuters. FILE PHOTO: Shadow Chancellor of the Exchequer Rachel Reeves attends a Labour general election campaign event with British opposition Labour Party leader Keir Starmer at Airbus Defence and Space, in Stevenage, Britain, May 28, 2024. REUTERS/Maja Smiejkowska/File Photo

Any other tax changes would come in October’s formal budget statement, which Reeves said would contain a new set of non-negotiable fiscal rules.

($1=0.7795 pounds)

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy-news/new-uk-government-sets-out-spending-cuts-to-plug-hole-in-public-finances-3541725

Tags: billionsbusinessgovernment
Previous Post

UK public sector workers get above-inflation pay rises, worth 9 billion pounds

Next Post

CJN Ariwoola To Retire Aug 22, Supreme Court To Hold Valedictory Session

7 boomer habits Gen Z mocks publicly but secretly respects – VegOut

7 Boomer Habits Gen Z Publicly Mocks but Secretly Admires

August 26, 2025
Solar Power Generator Efficiency Boosted 15x by Black Metal Technology – Technology Networks

Revolutionary Black Metal Technology Boosts Solar Power Generator Efficiency by 15 Times

August 26, 2025
What happened to college sports this summer? – The Daily Nebraskan

The Surprising Changes That Shaped College Sports This Summer

August 26, 2025

Why Your Subway System Isn’t Ready for Today’s Challenges

August 26, 2025
Considering the economic impact of the President’s law enforcement measures in DC – Federal News Network

How the President’s Law Enforcement Actions Are Shaping DC’s Economy

August 26, 2025
What Were Andy Griffith’s Last Words to Don Knotts? – Cadillac News

What Were Andy Griffith’s Final Words to Don Knotts?

August 26, 2025
Heinrich, Leger Fernández ask key U.S. health official to visit struggling Gallup Indian Medical Center – Santa Fe New Mexican

Heinrich, Leger Fernández ask key U.S. health official to visit struggling Gallup Indian Medical Center – Santa Fe New Mexican

August 26, 2025
Kilmar Ábrego García speaks out before entering ICE facility – CNN

Kilmar Ábrego García Breaks Silence Ahead of ICE Detention

August 26, 2025
WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

August 26, 2025
Bishop Kearney girls’ hockey team partners with UR Medicine for science-based training – 13wham.com

Bishop Kearney Girls’ Hockey Team Teams Up with UR Medicine for Cutting-Edge Science-Based Training

August 26, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (790)
  • Economy (810)
  • Entertainment (21,689)
  • General (16,681)
  • Health (9,851)
  • Lifestyle (824)
  • News (22,149)
  • People (811)
  • Politics (818)
  • Science (16,020)
  • Sports (21,310)
  • Technology (15,791)
  • World (792)

Recent News

7 boomer habits Gen Z mocks publicly but secretly respects – VegOut

7 Boomer Habits Gen Z Publicly Mocks but Secretly Admires

August 26, 2025
Solar Power Generator Efficiency Boosted 15x by Black Metal Technology – Technology Networks

Revolutionary Black Metal Technology Boosts Solar Power Generator Efficiency by 15 Times

August 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version