Rachel Reeves is the new UK government's Chancellor of the Exchequer:
- Says there is still more work to do on 'Pillar 1' tax agreement, optimistic for agreement by Autumn
- Wants tax burden on working people to be lower, but will not make unfunded commitments
- Will make statement on Monday about the state of public finances, public spending pressures
- I want taxes to be lower, not higher, but won't make commitments without being able to say where the money is coming from
- I am going to fix fiscal mess that the tories left us
- Wants fairer, sustainable tax on wealthy but need to strike right balance
- Labour wants to be pro-growth, pro-wealth creation
Stay tuned for Monday.
Later next week the Bank of England meet, on 1 August. A rate cut is expected.
