British Finance Minister Rachel Reeves revealed that Britain is facing a huge budget gap of 22 billion pounds ($28 billion) that it inherited from the previous Conservative government.
She said: "We inherited £22 billion in overspending, which was covered up by the Conservative Party, which moved into opposition after 14 years in power."
She pointed out that "if this is not addressed, it will mean a 25 percent increase in the budget deficit this year," noting that "the necessary and urgent work that I have done is to reduce this pressure on public finances by 5.5 billion pounds this year and more than 8 billion pounds next year."
Source (Al-Khaleej Emirati Newspapers, Edited)
