Chancellor Rachel Reeves hints at ’challenging’ Budget in new video

Chancellor Rachel Reeves has hinted at a “challenging” Budget as she prepares to borrow tens of billions of pounds to invest in Britain’s crumbling infrastructure. In a new video, posted on X today (24 October), Ms Reeves said next week’s Budget will “fix the foundations and deliver change”. The chancellor says: “I’m going to be honest about the scale of the challenge we inherited, a decade of sluggish economic growth, deteriorating public services and a £22m billion black hole in public finances. “But, we must not be held back by the past and instead we should look to the opportunities of the future.” Watch more on Independent TV: The Independent is the world’s most free-thinking newsbrand, providing global news, commentary and analysis for the independently-minded. Subscribe: Find us on social: TikTok / @independent Instagram /