Rachel Reeves set out her economic dogma early on in her parliamentary career, during a debate in 2010 on the state of Britain’s economy after the financial crisis. “I have great concerns about what the government have outlined today,” she told the House of Commons as George Osborne was preparing to launch years of austerity. “International evidence shows that hasty cuts will derail growth.”
Figures set to be published on Wednesday will shape the narrative about how much fiscal firepower Britain’s first female chancellor has at her disposal for the budget on October 30. Analysts expect the Office for National Statistics to say that the government borrowed £1.9 billion in July, above the Office for Budget Responsibility’s projection but down sharply from the £14.5 billion
