Chancellor Announces Spending Cuts, Hints at Tax Rise, More Cuts

NHS staff and teachers will get above-inflation pay boosts while new hospitals, transport projects, and other Tory spending pledge will be cancelled, Rachel Reeves announce on Monday. The new chancellor announced a raft of spending cuts, blaming the previous government for a £22-billion budge hole she said Labour has found since entering Downing Street. Ms. Reeves said she’s launching a multi-year spending review and will set out budget for the current and the next financial year on Oct. 30, and expects to make “difficult decisions … across spending, welfare and tax” in her first budget. Making a statement in Parliament, the chancellor told MPs Labour has “inherited a projected overspend of £22 billion” this year....