Portrait of the week: Spring Statement, Heathrow fire and Prince Harry quits his charity
Home In the Spring Statement, Rachel Reeves, the Chancellor of the Exchequer, made further cuts to benefits (such as freezing the Universal Credit health element for new claimants). The Office for Budget Responsibility had said that the cuts announced before would not let her meet her budget rules. She now planned a £9.9 billion surplus by 2030, but would borrow more in the coming financial year. Civil service running costs would be cut by 15 per cent, with about 10,000 of its 547,735 staff to go. She concentrated on a £2.2 billion increase in defence spending and proposed that Britain should become a ‘defence industrial superpower’. The OBR reduced its forecast
