Chancellor Rachel Reeves was accused of “piling up debt” which British people will pay for in higher taxes, as official figures today showed she had borrowed £14 billion more than planned.
Borrowing in the financial year that ended at the start of April was a staggering £151.9 billion - £14.6 billion more than expected and £20.7 billion more than in the same twelve-month period a year earlier, when the Conservatives were in power.
Conservative Shadow Chancellor Mel Stride said: “This morning’s figures lay bare the price the British people are paying for Rachel Reeves’ choices.
“These eyewatering sums are being paid for by hardworking people through higher taxes, higher prices and higher mortgage rates.”
The Chancellor is in Washington to meet finance ministers from across the world including US Treasury Secretary Scott Bessent. She is hoping to convince the US to cut or end 25% tariffs on British-made cars, and a 10% tariff on most other British exports.
The economy may come up when Kemi Badenoch grills Sir Keir Starmer at PMQs in the Commons latewr. The Conservative leader could also ask the Prime Minister about the landmark Supreme Court ruling on the definition of a woman.
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