Rachel Reeves to slam Conservatives for 'covering up' state of public finances

'They ran away,' Reeves to say

Linus Uhlig
clock • 2 min read

Chancellor Rachel Reeves will today (29 July) pledge to “fix the foundations of our economy”, paving the way for potential tax hikes in the autumn.

Having commissioned the Office for Budget Responsibility to carry out an assessment of the previous government's spending immediately after she set foot into Number 11, Reeves will today accuse her conservative predecessors of "covering up the true state of the public finances" from the British public.  "They ran away. I will never do that," Reeves will tell Parliament, according to a Treasury spokesperson.  Today, the chancellor will also confirm that she has commissioned an OBR forecast to coincide with a Budget and spending review due to be held later this year.  In an attempt t...

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 Your profession

What do younger clients really want from their adviser?

What do younger clients really want from their adviser?

'They're going to need all the help they can get'

Justin Cash
clock 21 October 2026 • 5 min read
CII and PFS celebrate more than 300 chartered graduates

CII and PFS celebrate more than 300 chartered graduates

347 graduate from CII and PFS

Sophia Panayi
clock 21 October 2026 • 2 min read
True Potential Wealth Management CEO calls for 'clear set of decisions' in upcoming Budget

True Potential Wealth Management CEO calls for 'clear set of decisions' in upcoming Budget

Short-term policy decisions ‘disturb’ advice landscape

Sophia Panayi
clock 20 October 2026 • 2 min read