Watch: Rachel Reeves holds press convention after spring assertion backlash | EUROtoday

Watch once more as Rachel Reeves held a press convention on 26 March following backlash to her spring assertion.

Delivering her spring assertion to the House of Commons on Wednesday, the chancellor blamed “increased global uncertainty” because the Office for Budget Responsibility halved its forecast for progress in gross home product in 2025 from 2 per cent to simply 1 per cent.

Ms Reeves additionally confirmed an extra squeeze on the welfare finances, constructing on cuts to the incapacity and incapacity invoice set out earlier this month, with the package deal now anticipated to avoid wasting £4.8 billion slightly than the greater than £5 billion in 2029/30 hoped for by ministers.

In a damning revelation, the federal government’s personal impression evaluation stated after the announcement that an estimated quarter of one million folks, together with 50,000 kids, could be pushed into relative poverty by the tip of the last decade on account of welfare reforms.

The evaluation additionally estimated 3.2m households would lose on common £1,720 per 12 months in comparison with inflation in 2029 and 2030.