Economy  

Budget set for October as Labour tackles 'black hole' in public finances

She also said spending reviews would take place every two years with a minimum planning horizon of three years to "avoid uncertainty for departments and to bring stability to our public finances".

Reeves added: "I have already spoken to the chair of the Office for Budget Responsibility to brief him on the findings of our audit and our reforms.

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"By launching the spending review, I am also today starting the firing gun on a new approach to public service reform to drive greater productivity in the public sector. We will embed an approach to government that is mission led, that is reform driven, with the greatest focus on prevention and integration of services at both a national and local level."

tara.o'connor@ft.com

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