Labour attacks spending as MoD blows £69k on pianos

clock

The shadow chief secretary to the Treasury, Rachel Reeves, has accused the government of failing to cut inefficiency and borrowing.

Former pensions spokesperson Reeves also highlighted instances of "questionable spending" at the Ministry of Defence (MoD) and other departments. Addressing the Institute of Public Policy Research (IPPR) today, Reeves said: "[The government] said it would cut borrowing, but they are borrowing £158bn more than they planned." As the government today announced public spending in January was in its highest surplus in four years, Reeves claimed spending is still higher and tax revenues lower than the government planned. "The Chancellor might claim to be on track when today's public sect...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

FCA's Rathi addresses Autumn Budget market abuse concerns

FCA's Rathi addresses Autumn Budget market abuse concerns

Pens open letter to Treasury Committee

Isabel Baxter
clock 04 December 2025 • 2 min read
More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read
OBR 'deeply regrets' early release of Budget document

OBR 'deeply regrets' early release of Budget document

Mistaken release of Budget documents forced Richard Hughes' resignation

Linus Uhlig
clock 02 December 2025 • 3 min read