UK public sector worker pay raises led to £4.7bn overspending and £51.4bn national debt increase.

Rachel Reeves' decisions to raise public sector worker pay have caused overspending in UK public finances, with £4.7bn more spent than forecasted in the first four months of the financial year. This led to a £51.4bn national debt increase. The government's current spending is expected to surpass 34% of its budgeted expenditure. Reeves' budget in September may include tax increases to help manage these financial pressures.

August 20, 2024
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