Britain's new Treasury chief aims for iron discipline in managing the economy while considering above-inflation pay raises to tackle strikes and unrest in the public sector.
The Labour government faces pressure to increase spending on salaries and welfare benefits, balancing promises of no tax hikes or public borrowing increases.
Treasury chief Rachel Reeves acknowledges the challenges left by the previous Conservative government including high taxes, debt levels, and strained public services.
Labour won on pledges for economic growth, infrastructure development, and service improvements, aiming to address the electorate's cost-of-living concerns amid post-invasion and tax-cut impacts.
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