Britain’s new Treasury chief says she will run the economy with “iron discipline.”
Britain’s new Treasury chief said Sunday she will run the economy with “iron discipline,” but suggested she’ll give public sector workers an above-inflation pay raise to help end a wave of strikes and strife.
The Labour Party government is under pressure from supporters and trade unions to spend more on salaries and welfare benefits, two weeks after it was elected on promises not to hike personal taxes or increase public borrowing,
“I think people know that things are a mess,” Treasury chief Rachel Reeves told the BBC, arguing the previous Conservative government had left “public services on their knees, a tax burden at a 70-year high, debt almost the same size as our entire economy.
“I’m going to level with people about the scale of the challenge and then begin to fix the foundations,” she said. “I am going to run our economy with iron discipline, bringing stability back.”
The center-left Labour Party won a landslide election victory on July 4 on a promise to get the U.
