Reeves: Black hole in economy is unsustainable
Chancellor Rachel Reeves claims “black hole” in public finances is “unsustainable”. She said, “left unchecked it would be financial stability at risk”.
Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Category
🗞
NewsTranscript
00:00And this afternoon, the Chair of the Office for Budget Responsibility
00:03has confirmed that he only learnt about the full scale of these issues last week
00:07when he was informed by the Treasury.
00:09The black hole in the public finances is not sustainable.
00:13Left unchecked, it would put financial stability at risk.
00:16It would see debt rising and it would mean higher costs in the future.
00:20I have always been honest with the British people
00:23that I will never make promises without saying where the money is going to come from.
00:26If we cannot afford it, we cannot do it.