Labour's public spending inheritance: What is Rachel Reeves' plan?

Published: July 31, 2024, 10:15 a.m.

The chancellor has set out her audit of public spending to MPs. Revealing what she calls a multi-billion pound \u201cblack hole\u201d in the government finances, Rachel Reeves has vowed \u201cto fix the mess we inherited\u201d from the Conservative government.\n\nSo do these sums add up and what do they mean for public services? Should this inheritance come as a surprise to Labour and what does it mean for the party\u2019s manifesto pledges? And what is Rachel Reeves\u2019 plan \u2013 which could involve tax rises or spending cuts \u2013 for dealing with the problem?\n\nTo discuss these questions and more, we were joined by an expert panel, including:\n\nOlly Bartrum, Senior Economist at the Institute for Government\nNick Davies, Programme Director at the Institute for Government\nGemma Tetlow, Chief Economist at the Institute for Government\n\nThe webinar was chaired by Hannah White, Director and CEO of the Institute for Government.