Reeves squeezes benefits as 2025 growth forecast halved

Rachel Reeves has squeezed the welfare budget further and boosted defence spending in a Spring Statement aimed at kick-starting the faltering economy.
The Office for Budget Responsibility (OBR) – the government’s financial watchdog – halved its growth forecast for this year to 1%.
The chancellor blamed global instability, arguing that the world was “changing before our eyes” and promising a “new era of security and national renewal”.
The OBR painted a more upbeat picture of subsequent years, predicting growth will be higher than expected thanks, in part, to more housebuilding.
The Department for Work and Pensions’ assessment finds that 3.8 million families are set to be on average £420 per year better off due to the changes.

Courtesy: BBC