UK fin min Reeves warns to consider cuts to front line services

Rachel Reeves is the UK’s Chancellor of the Exchequer.

The UK TImes (gated) reports that Reeves has warned ministers to consider cuts to frontline services

• they will have to consider cuts to
  frontline services if they want to fund above-inflation pay
  rises for public-sector workers
• Treasury has taken a hardline stance
• told ministers
  that there will be no additional funding and that if independent
  pay-review bodies recommend bigger rises in earnings, they will
  have to fund it from within existing budgets

The summary of the Times piece comes via Reuters.

GBP little changed.

This article was written by Eamonn Sheridan at www.forexlive.com.