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Spring statement 2025 latest: Rachel Reeves targets civil service cuts in bid to save £10bn
Ahead of the UK Spring Statement, the Bank of England chief warned that Trump's tariffs pose a threat to the UK economy. Chancellor Rachel Reeves announced a £2 billion affordable housing boost amidst upcoming public service cuts. The government aims to build 1.5 million new homes in five years. A leading economist cautioned against implementing a wealth tax. Reeves denied reported cuts to universal free school meals, but spending cuts are expected in the Spring Statement.
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