What state are government finances in and what legacy is Reeves likely to inherit?

Hunt has steadied the ship, but some may question whether there is really fiscal room for tax cuts Jeremy Hunt was dealt a poor hand when he entered No 11 in October 2022. The public finances were in a mess after Liz Truss and her chancellor, Kwasi Kwarteng, had splurged £45bn on tax cuts in a mini-budget that was considered so reckless it spooked financial markets. Interest rates spiralled higher, leaving Hunt to wrestle with rising debt-financing costs at a time when double-digit inflation wa...