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

Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read
Advising silver splitters: Legal insight for older clients getting a divorce

Advising silver splitters: Legal insight for older clients getting a divorce

Why is divorce becoming more common in older clients?

Katharine Bundell
clock 15 December 2025 • 4 min read