Reeves’ spring statement will also confirm the £5bn in welfare cuts announced last week and ambition to spend 3% of GDP on defence
Rachel Reeves will promise to “secure Britain’s future” by boosting defence spending in Wednesday’s spring statement, as she faces mounting speculation that she will be forced to raise taxes in the autumn.
Speaking to MPs on Wednesday as she responds to the latest forecasts from the Office for Budget Responsibility (OBR), the chancellor will announce that she has set aside an extra £2.2bn for defence next year.
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