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Politics

Reeves announces spending cuts to address budget shortfall

UK Finance Minister Rachel Reeves announces spending cuts to address budget shortfall, while prioritising growth and working people’s needs.

Published

11 months ago

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UK Finance Minister Rachel Reeves announces spending cuts to address budget shortfall, while prioritising growth and working people’s needs.

In Short

Britain’s Finance Minister Rachel Reeves announced spending cuts to address a budget deficit, emphasising the need to reduce debt and boost employment through welfare savings. She committed to fiscal rules aiming to match daily spending with tax revenues while increasing defence spending and promoting housebuilding for economic growth.

Britain’s Finance Minister Rachel Reeves announced significant spending cuts on Wednesday to address a budget shortfall due to stalling growth and increased borrowing costs.

She stated that reducing debt and borrowing is essential to prioritise spending for working people.

Reeves highlighted welfare cuts expected to save £4.8 billion and promote employment. She proposed advancing investment spending and tackling tax avoidance to enhance Treasury revenues.

Tax revenue

Acknowledging global uncertainties, she revealed plans to raise defence spending to 2.5% of GDP, funded by cuts in overseas aid. Reeves also mentioned that Labour government’s planning reforms would boost housebuilding, facilitating economic growth.

She reaffirmed her commitment to her fiscal rules established in the Autumn Budget, aiming to match day-to-day spending with tax revenues and decrease public debt by 2029-30.

On Wednesday, Reeves insisted her new policies would allow her to meet stability and investment rules two years early.

The Spring Statement coincided with the Office for Budget Responsibility’s (OBR) economic forecasts, which downgraded the U.K.’s growth forecast for 2025 from 2% previously.

Reeves expressed dissatisfaction with the revised figures but noted an upgrade in growth forecasts for 2026 onwards, projecting GDP growth of 1.9% in 2026 and 1.8% in subsequent years.

She concluded by recognising the need for a government responsive to changes and focused on the interests of working people.

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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Politics

Sussan Ley faces leadership pressure amid coalition turmoil

Sussan Ley faces rising pressure as Liberal Party dissent grows; political stability at risk, per Chris Berg.

Published

1 day ago

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February 9, 2026

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Sussan Ley faces rising pressure as Liberal Party dissent grows; political stability at risk, per Chris Berg.


Liberal leader Sussan Ley is under growing pressure less than a year into her role, as internal party dissent intensifies and narratives form questioning her judgement. Political insiders suggest her leadership could face serious challenges in the coming months.

Professor Chris Berg from RMIT University breaks down the forces driving instability in Australian politics, examining how party dynamics and public perception influence leadership survival.

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#SussanLey #AustralianPolitics #LiberalParty #LeadershipCrisis #PoliticalAnalysis #ChrisBerg #RMITUniversity #TickerNews


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Politics

Liberal Party turmoil sparks coalition decline and One Nation surge

The Liberal Party faces internal crisis as One Nation gains support; political experts discuss implications and necessary reforms.

Published

1 week ago

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February 2, 2026

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The Liberal Party faces internal crisis as One Nation gains support; political experts discuss implications and necessary reforms.


The Liberal Party is in crisis as internal conflicts and controversies shake the Coalition’s stability. Political analysts warn that these events could have long-lasting effects on Australia’s political landscape.

One Nation is seizing the moment, gaining momentum as voter confidence in the Liberals weakens. The party’s leadership struggles and public perception challenges highlight a growing political shift in the country.

Professor Chris Berg from RMIT University joins Ticker to explain the drama, public reactions, and lessons the Liberal Party must learn to restore unity and prevent further decline.

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#LiberalParty #AustralianPolitics #CoalitionCollapse #OneNationRise #PoliticalTurmoil #ElectionWatch #PartyDrama #LeadershipCrisis


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Politics

Sussan Ley vows to stay on as Coalition tensions escalate

Sussan Ley remains confident as Liberal leader, focusing on accountability while leaving the door open for Coalition talks.

Published

3 weeks ago

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January 23, 2026

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Sussan Ley remains confident as Liberal leader, focusing on accountability while leaving the door open for Coalition talks.


Sussan Ley says she has the backing to remain Liberal leader despite the Nationals refusing to rejoin the Coalition under her leadership.

She insists her focus is on holding the government to account while keeping the door open for future talks.


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