{"id":887,"date":"2024-07-30T12:43:13","date_gmt":"2024-07-30T07:13:13","guid":{"rendered":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/"},"modified":"2024-07-30T12:47:11","modified_gmt":"2024-07-30T07:17:11","slug":"tories-have-left-uk-with-22bn-overspend-chancellor","status":"publish","type":"post","link":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/","title":{"rendered":"Tories have left UK with \u00a322bn overspend \u2013 chancellor"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p class=\"wp-block-paragraph\"><strong>Rachel Reeves has accused the Conservatives of \u201cducking\u201d hard choices and running tens of billions of pounds over budget<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">UK public spending is on track to go \u00a322 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Warning of the need to make&nbsp;<em>\u201cdifficult decisions,\u201d<\/em>&nbsp;the chancellor announced an immediate \u00a35.5 billion ($7 billion) of cuts, promising a further \u00a38.1 billion ($10.4 billion) spending decrease for the next financial year. Reeves also announced above-inflation pay rises for public sector workers costing some \u00a39.1 billion ($11.7 billion). Tory policies had sparked worker strikes in several areas of the public sector for years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThey ducked the difficult decisions. They put party before country. The reserve spent more than three times over, only three months into the financial year, and they told no one,\u201d<\/em>&nbsp;Reeves said in the House of Commons.&nbsp;<em>\u201cThe scale of this overspend is not sustainable. Not to act is simply not an option,\u201d<\/em>&nbsp;she added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reeves\u2019 Conservative predecessor Jeremy Hunt has accused the new chancellor of laying the groundwork for breaking her pre-election promises and raising taxes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cToday\u2019s exercise is not economic, it\u2019s political. She wants to blame the last Conservative government for tax rises and project cancellations she has been planning all along,\u201d<\/em>&nbsp;Hunt has said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new Labour government inherited a UK economy with stagnant growth and the highest level of public sector net debt since the early 1960s. The country\u2019s ratio of public sector net debt to gross domestic product (GDP) was estimated to be at 99.5% in late June, according to the Office of National Statistics&nbsp;<a href=\"https:\/\/www.ons.gov.uk\/economy\/governmentpublicsectorandtaxes\/publicsectorfinance#:~:text=Public%20sector%20finances%2C%20UK%3A%20June%202024&amp;text=Public%20sector%20net%20debt%20excluding,seen%20in%20the%20early%201960s.\" target=\"_blank\" rel=\"noreferrer noopener\">bulletin<\/a>. GDP is expected to grow by 0.7% this year, according to the International Monetary Fund\u2019s July economic outlook&nbsp;<a href=\"https:\/\/www.imf.org\/en\/Publications\/WEO\/Issues\/2024\/07\/16\/world-economic-outlook-update-july-2024\" target=\"_blank\" rel=\"noreferrer noopener\">update<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new UK chancellor has slammed her Tory predecessors for a \u00a322 billion budget overspend Read Full Article at RT.com<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[367,366,364,363,365],"class_list":["post-887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-ai-news","tag-prativad-ai-news","tag-raising-taxes","tag-tory-financial","tag-uk-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier\" \/>\n<meta property=\"og:description\" content=\"The new UK chancellor has slammed her Tory predecessors for a \u00a322 billion budget overspend Read Full Article at RT.com\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\" \/>\n<meta property=\"og:site_name\" content=\"Leading the AI News Frontier\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-30T07:13:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-30T07:17:11+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/ainews.prativad.com\/#\/schema\/person\/f939c39aa47576860d0236de03d92109\"},\"headline\":\"Tories have left UK with \u00a322bn overspend \u2013 chancellor\",\"datePublished\":\"2024-07-30T07:13:13+00:00\",\"dateModified\":\"2024-07-30T07:17:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\"},\"wordCount\":332,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ainews.prativad.com\/#organization\"},\"keywords\":[\"AI News\",\"prativad ai news\",\"raising taxes\",\"Tory financial\",\"UK economy\"],\"articleSection\":[\"Top News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\",\"url\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\",\"name\":\"Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier\",\"isPartOf\":{\"@id\":\"https:\/\/ainews.prativad.com\/#website\"},\"datePublished\":\"2024-07-30T07:13:13+00:00\",\"dateModified\":\"2024-07-30T07:17:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ainews.prativad.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tories have left UK with \u00a322bn overspend \u2013 chancellor\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ainews.prativad.com\/#website\",\"url\":\"https:\/\/ainews.prativad.com\/\",\"name\":\"Leading the AI News Frontier\",\"description\":\"Empowering You with AI Intelligence\",\"publisher\":{\"@id\":\"https:\/\/ainews.prativad.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ainews.prativad.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ainews.prativad.com\/#organization\",\"name\":\"Leading the AI News Frontier\",\"url\":\"https:\/\/ainews.prativad.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ainews.prativad.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ainews.prativad.com\/wp-content\/uploads\/2024\/09\/AInews.png\",\"contentUrl\":\"https:\/\/ainews.prativad.com\/wp-content\/uploads\/2024\/09\/AInews.png\",\"width\":300,\"height\":72,\"caption\":\"Leading the AI News Frontier\"},\"image\":{\"@id\":\"https:\/\/ainews.prativad.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ainews.prativad.com\/#\/schema\/person\/f939c39aa47576860d0236de03d92109\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"https:\/\/ainews.prativad.com\"],\"url\":\"https:\/\/ainews.prativad.com\/index.php\/author\/prativadainews\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/","og_locale":"en_US","og_type":"article","og_title":"Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier","og_description":"The new UK chancellor has slammed her Tory predecessors for a \u00a322 billion budget overspend Read Full Article at RT.com","og_url":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/","og_site_name":"Leading the AI News Frontier","article_published_time":"2024-07-30T07:13:13+00:00","article_modified_time":"2024-07-30T07:17:11+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#article","isPartOf":{"@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/"},"author":{"name":"admin","@id":"https:\/\/ainews.prativad.com\/#\/schema\/person\/f939c39aa47576860d0236de03d92109"},"headline":"Tories have left UK with \u00a322bn overspend \u2013 chancellor","datePublished":"2024-07-30T07:13:13+00:00","dateModified":"2024-07-30T07:17:11+00:00","mainEntityOfPage":{"@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/"},"wordCount":332,"commentCount":0,"publisher":{"@id":"https:\/\/ainews.prativad.com\/#organization"},"keywords":["AI News","prativad ai news","raising taxes","Tory financial","UK economy"],"articleSection":["Top News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/","url":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/","name":"Tories have left UK with \u00a322bn overspend \u2013 chancellor - Leading the AI News Frontier","isPartOf":{"@id":"https:\/\/ainews.prativad.com\/#website"},"datePublished":"2024-07-30T07:13:13+00:00","dateModified":"2024-07-30T07:17:11+00:00","breadcrumb":{"@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ainews.prativad.com\/index.php\/tories-have-left-uk-with-22bn-overspend-chancellor\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ainews.prativad.com\/"},{"@type":"ListItem","position":2,"name":"Tories have left UK with \u00a322bn overspend \u2013 chancellor"}]},{"@type":"WebSite","@id":"https:\/\/ainews.prativad.com\/#website","url":"https:\/\/ainews.prativad.com\/","name":"Leading the AI News Frontier","description":"Empowering You with AI Intelligence","publisher":{"@id":"https:\/\/ainews.prativad.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ainews.prativad.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ainews.prativad.com\/#organization","name":"Leading the AI News Frontier","url":"https:\/\/ainews.prativad.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ainews.prativad.com\/#\/schema\/logo\/image\/","url":"https:\/\/ainews.prativad.com\/wp-content\/uploads\/2024\/09\/AInews.png","contentUrl":"https:\/\/ainews.prativad.com\/wp-content\/uploads\/2024\/09\/AInews.png","width":300,"height":72,"caption":"Leading the AI News Frontier"},"image":{"@id":"https:\/\/ainews.prativad.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ainews.prativad.com\/#\/schema\/person\/f939c39aa47576860d0236de03d92109","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e1a3cd2a786fa91b6ef0a32f79100bce09ca647b35c4fd9c7ae06d11101b31a4?s=96&d=mm&r=g","caption":"admin"},"sameAs":["https:\/\/ainews.prativad.com"],"url":"https:\/\/ainews.prativad.com\/index.php\/author\/prativadainews\/"}]}},"_links":{"self":[{"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/posts\/887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/comments?post=887"}],"version-history":[{"count":1,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/posts\/887\/revisions"}],"predecessor-version":[{"id":891,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/posts\/887\/revisions\/891"}],"wp:attachment":[{"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/media?parent=887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/categories?post=887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ainews.prativad.com\/index.php\/wp-json\/wp\/v2\/tags?post=887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}