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

Linus Uhlig
Author spotlight

Linus Uhlig

Linus Uhlig is a senior reporter at Investment Week

More on Your profession

Feel Good Friday: CII and PFS host annual apprenticeship awards

Feel Good Friday: CII and PFS host annual apprenticeship awards

Part of next gen development push and ‘upholding professionalism’

Professional Adviser
clock 24 October 2025 • 1 min read
FCA to deliver 'fewer and faster' enforcement outcomes this year

FCA to deliver 'fewer and faster' enforcement outcomes this year

Therese Chambers says the watchdog is prosecuting more people than ever before

Sahar Nazir
clock 23 October 2025 • 2 min read
Autumn Budget 2025: Majority of Brits concerned about rumoured pension tax-free tax changes

Autumn Budget 2025: Majority of Brits concerned about rumoured pension tax-free tax changes

The updates advisers need in the run up to the Autumn Budget 2025 on 26 November

Professional Adviser
clock 23 October 2025 • 1 min read