Chancellor's Fiery Retort Amid Budget Pressure
Chancellor Rachel Reeves has delivered a robust defence of her position, stating she is "sick of people mansplaining how to be chancellor" to her. This sharp rebuke comes just days before she is set to unveil a make-or-break Budget, with the government facing intense scrutiny over anticipated tax rises.
In a candid interview, Britain's first female chancellor acknowledged the personal toll of the criticism, revealing she finds the constant media focus "exhausting." Despite this, she insisted she is "not going to let them bring me down by undermining my character or my confidence."
Admitting Errors and Facing Fiscal Reality
Ms Reeves conceded that the government has "made a couple of unforced errors" but was adamant that it is "fighting to win." Her remarks arrive as she works to fill a £20 billion black hole in the public finances, a task that has been preceded by weeks of speculation and leaks about her tax plans.
While she appears to have retreated from earlier proposals to increase income tax, the Chancellor is widely expected to seek alternative revenue streams to address the shortfall and adhere to her fiscal rules. The detailed plan will be laid out in her Budget next week.
A Personal Moment and a Public Borrowing Blow
The interview also touched on a highly publicised moment when Ms Reeves was seen crying during Prime Minister's Questions, an incident previously attributed to a "personal issue." She reflected on the difficulty of having such a moment on live television, stating, "Most people have had a day at work when they go into the toilets and have a cry... Unfortunately, my difficult moment was on live television." She added that if she could relive the day, she would not have entered the chamber.
In a further challenge for the Chancellor, the latest official figures delivered an untimely blow. The Office for National Statistics reported that public sector borrowing stood at £17.4 billion last month. This was £1.8 billion lower than the previous year but represents the third highest level for October since records began. The figure exceeded forecasts from most economists and was higher than the £14.4 billion predicted by the Office for Budget Responsibility in March, underscoring the immense pressure on the Treasury ahead of the Budget announcement.
