Ahead of her second Budget on November 26, Rachel Reeves told The Times Magazine that the country could not continue on its current trajectory. The Prime Minister said it would prioritise protecting public services, particularly the NHS, cutting the national debt and tackling the cost of living. Ms Reeves is set to deliver her second budget (Leon Neal/PA)But Ms Reeves faces a difficult challenge to achieve those aims thanks to weak economic growth, persistent inflation and an expected downgrade to official productivity forecasts. In her interview, Ms Reeves said: “Borrowing is too high, but you can’t cut it overnight. Public services are a mess, but we haven’t got loads of money to throw at them and we have to use what we’ve got well.

Source: The Times November 21, 2025 16:12 UTC