Britain’s new Labor government has axed several construction projects and withdrawn a winter fuel payment for millions of retirees. The moves are meant to cover what the government calls a newly found 28 billion dollar shortfall in the public finances. It blames the former Conservative administration. The Treasury chief has accused the Conservative government of […]
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UK’s new Treasury chief axes projects to save costs
Britain’s new Labor government has axed several construction projects and withdrawn a winter fuel payment for millions of retirees. The moves are meant to cover what the government calls a newly found 28 billion dollar shortfall in the public finances. It blames the former Conservative administration. The Treasury chief has accused the Conservative government of covering up the dire state of the public purse following a review of departmental spending that she commissioned after Labor’s electoral victory.