Rachel Reeves is the UK's Chancellor of the Exchequer.
The UK TImes (gated) reports that Reeves has warned ministers to consider cuts to frontline services
- they will have to consider cuts to frontline services if they want to fund above-inflation pay rises for public-sector workers
- Treasury has taken a hardline stance
- told ministers that there will be no additional funding and that if independent pay-review bodies recommend bigger rises in earnings, they will have to fund it from within existing budgets
The summary of the Times piece comes via Reuters.
Rachel Reeves
GBP little changed.
