Chancellor Rachel Reeves is set to reveal details on Monday of an audit of the UK's public finances which could tell of a black hole of some £20 billion between revenues and funding commitments, including in areas such as asylum and public sector pay.
Before the July 4 election, the Institute for Fiscal Studies (IFS) accused the political parties of a "conspiracy of silence" over the state of the public finances and difficult choices ahead.
"Now they are reckoning with reality.
This story is from the July 26, 2024 edition of Evening Standard.
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This story is from the July 26, 2024 edition of Evening Standard.
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