Rachel Reeves: Tough decisions ahead but 'no return to austerity'

Chancellor spoke at Labour party's annual conference

Sorin Dojan
clock • 2 min read

Chancellor Rachel Reeves doubled down on her promise not to bring back austerity measures during her speech at the Labour party's annual conference in Liverpool on Monday (23 September).

Reeves accused the former Conservative government led by Rishi Sunak of spending money that "was not there", contributing to an identified £22bn fiscal hole, which she said would pose risks "for years to come" if not tackled now.  However, the chancellor added that "there will be no return to austerity" because of the damage done in previous years. Nevertheless, she described years of Conservative rule as a "a destructive choice for our public services and for investment and growth too", forcing the current government to consider "tough decisions". Turning to the Budget, Reeves sai...

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

CII: Vulnerable client management is 'an opportunity for growth'

CII: Vulnerable client management is 'an opportunity for growth'

Firms can expand potential client bases

Isabel Baxter
clock 07 April 2026 • 2 min read
Common language used by advisers triggers anxiety and distrust among retirees

Common language used by advisers triggers anxiety and distrust among retirees

Product-led communication one of the biggest drivers of mistrust

Laura Purkess
clock 01 April 2026 • 1 min read
Advisers: Are you even taking your own advice?

Advisers: Are you even taking your own advice?

Exploring the expenditure consolidation conversation

Nick Ryan
clock 25 March 2026 • 4 min read