Tories have left UK with £22bn overspend – chancellor

Rachel Reeves has accused the Conservatives of “ducking” hard choices and running tens of billions of pounds over budget

UK public spending is on track to go £22 billion ($28 billion) over budget by this year due to Tory financial mismanagement, the new Chancellor of the Exchequer, Rachel Reeves, told parliament on Monday.

Reeves took over as finance chief after Labour won a landslide victory in the general election in early July, ending 14 years of Conservative Party rule.