The OBR stated it was not informed by the Treasury about significant pressures totaling £9.5 billion on public spending, affecting its fiscal assessments. The absence of this information led to a distorted view of the public finances, remarking that had it been available, it would have altered their judgement considerably on departmental spending and fiscal outlook.
Chancellor Reeves attributed the £40 billion tax hike to past Conservative administration’s unfunded promises, indicating a lack of transparency in fiscal matters, which she claims were concealed from both the public and Parliament. This assertion highlighted a sense of urgency and necessity for the current government to correct the previous administration's financial mismanagement.
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