Rachel Reeves does reasonable job of justifying fiscal prudence but welfare cuts cast shadow

Chancellor was able to point to glimmers of hope in spring statement despite economic growth forecasts being slashed

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The bruising row over welfare cuts in the run-up to Rachel Reeves’s spring statement led to the Treasury being portrayed as a gang of bullies with spreadsheets, ranging across Whitehall.

Her moment in the spotlight on Wednesday allowed the chancellor to set these wrangles over tax and spend in a wider context: as a precondition for rebuilding the UK.