British finance minister Rachel Reeves has delayed the timing of a multi-year spending review from spring 2025 to June, the Financial Times reported on Thursday, citing officials and ministers.
The British government uses spending reviews (SRs) to set out public spending plans for various government departments.
The delay likely reflects the difficult trade-offs facing the Labour government as it looks to invest in areas such as healthcare and prolongs the uncertainty for government departments, the FT said.
“The Chancellor (Reeves) has confirmed that Phase 2 of the SR will conclude in late spring and has also been clear that she will never play fast and loose with the public finances,” Britain’s finance ministry said in a statement.
In her first budget since Labour took office in July, Reeves last month announced the biggest tax increases in three decades with a pledge to repair the country’s broken public services through heavy spending.
(Reporting by Sachin Ravikumar）
