What to expect from Rachel Reeves' spring statementThe Independent
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00:00On Wednesday, Chancellor Rachel Reeves will make her Spring Statement, an update for her plans on the UK economy.
00:06Here's what to expect.
00:07First thing to note, there will be no tax rises, at least that's what Reeves has previously said.
00:12Whether that turns out to be true or not, we'll know on Wednesday.
00:16Prime Minister Keir Starmer has said the government is looking to make savings across the board.
00:20Reeves is expected to announce spending cuts and some big measures aimed at saving money.
00:25She has already spoken about shaking up the civil service,
00:28including cutting 10,000 civil service jobs by the end of the decade.
00:33Elsewhere, reform to the welfare system and big cuts to public spending appear to be the
00:38chosen ways of balancing the books. But this Labour government will be desperate
00:42to avoid comparisons with the 2010s era of austerity under the Conservatives.
00:48Reeves has said she remains confident that living standards will increase
00:51during the course of this Parliament.
00:53So she will probably try to soften what could be quite bleak economic news for some.
00:58That means there will likely be plenty of talk of stimulating growth and cutting red tape.