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

Chancellor spoke at Labour party's annual conference

Sorin-Andrei 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

FCA: Most firms unable to meet bereavement claims performance levels

FCA: Most firms unable to meet bereavement claims performance levels

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
ETF providers launch unlisted share classes to tackle slow MPS adoption

ETF providers launch unlisted share classes to tackle slow MPS adoption

Technological and cost barriers

Valeria Martinez
clock 22 November 2024 • 5 min read
Advisers expect regulation to limit time taken on giving advice

Advisers expect regulation to limit time taken on giving advice

Industry expects it will constrain their ability to meet demand

Isabel Baxter
clock 22 November 2024 • 2 min read