UK warns of extra £22bn hole in public finances

Reeves, who is the first woman chancellor of the exchequer, also cancelled or postponed road and hospital building projects and restricted winter fuel payments to only the poorest pensioners.

Britain's Chancellor of the Exchequer Rachel Reeves speaks during a press conference at the Treasury in central London on July 29, 2024, after her ministerial statement to MPs on government finances. (AFP)