Rachel Reeves has spent the morning touring the broadcast studios as she attempts to pitch roll for Wednesday’s Spring Statement. While this was never meant to be a big fiscal event, it has taken on a new significance as a result of the worsening public finances. The Chancellor is looking for billions in savings with the OBR expected to slash its growth forecast and for rising borrowing costs to have wiped out Reeves’s £10 billion of fiscal headroom.
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