Chancellor to address £20bn 'black hole' in govt finances - reports

First reported on the BBC, Reeves is to give a statement to Parliament on Monday 29 July showing "honesty" about the scale of the challenge faced by the Labour government. She has promised to "fix the mess" inherited by the previous Conservative government, the reports suggested, but would not confirm if the gap in the public finances stood at more than £20bn per year. Reeves is also going to set out the government's response to the public sector pay recommendations, which are about 3% higher than in current spending plans. The idea of the financial "black hole" emerged as the gove...