Reeves Faces Criticism Over Fiscal Policies

Chancellor Rachel Reeves presented her Spring Statement, addressing a substantial fiscal deficit by announcing budget cuts and a freeze on new tax rises despite halved economic growth forecasts. The Office for Budget Responsibility now predicts 1% growth for 2025, with GDP growth not expected to exceed 2% during this parliament. Reeves faces criticism for conservative fiscal policies resulting in cuts to public services and welfare. Additional measures include reforms to ISAs, planning policies to boost GDP, and increased defense spending. Her handling of the economy has sparked political backlash, with declining public trust in the Labour government's economic management. Amid this turmoil, Reeves aims to restore fiscal stability by balancing public spending with tax revenues by 2030.