Rachel Reeves Expected To Unveil £20bn 'Black Hole' In Public Finances

Chancellor Rachel Reeves will make a major announcement in the Commons today

Chancellor Rachel Reeves will unveil a £20bn “black hole” in the public finances today.

In an address to the Commons, she is expected to blame the Conservatives for their poor management of the UK economy, and reveal what measures she will take to try to close the gap.

The Treasury will today publish an internal audit where it will reveal a gap of £20bn between tax revenues coming into the government’s pockets and expected spending.