By Yiannis Haniotakis

A pound of £ 14 billion cuts included the so -called “Spring Statement” by UK Minister of Finance Rachel Rives, who reiterated that the defensive costs will rise to 2.5% of GDP by 2027with the extra cost being covered by a reduction in international aid.

In fact, the Ministry of Defense will receive additional 2.2 billion. pound the Next year, which will be spent on new high -tech weapons, the upgrading of the naval base in Portsmouth and the renovation of military housing.

“Our task is to secure Britain’s future in a world that changes in front of our eyes”, Reeves told parliament on Wednesday. “Citizens must have no doubt about how serious I get the budgetary rules.”

The cuts announced relate to the social welfare and expenditure of the ministries, with reactions and even by a number of MPs of the ruling Labor Party being intenseas they are estimated to push 250,000 more peopleincluding 50,000 childrento poverty.

MP Bell Ribeiro-Anni said he would vote against the measures, stressing that no Labor MP should be “He votes to push children to poverty.”

At the same time, the budget office (OBR) reduced to half the forecasts for growth the current year, from 2% to 1%. Despite the downgrade for 2025, Reeves told MPs that OBR’s forecasts for 2026 onwards have improved, explaining that the government’s budget would move from a £ 36.1 billion in 2025-26 and 13.4 billion in 2026-27, to a surplus of 6 billion at 2027-28-28 and 202 2029-30.

In an article in the Times newspaper, Rachel Reeves points out: “The world has changed. We can see it everywhere around us. Global uncertainty increases the cost of state lending and pushing down economic growth. European countries need to spend more on defense. Now more than ever, the United Kingdom is demanding a government that will offer a new era of security and renewal. “

“We don’t want to escalate trade wars”

At the same time, Rachel Reeves told Sky News on Thursday morning that the United Kingdom does not want to get involved in a escalation of commercial tensions with the United States, following former President Donald Trump’s decision to impose a 25% duty on all imported cars.

Speaking on Sky News Breakfast show, he made it clear that “We are not right now where we want to do anything to escalate these trade wars.” As he pointed out, trade wars ‘They’re not good for anyone’, As they end up at increased prices for consumers, boosting inflation while making it difficult to export British businesses.

Reeves stressed that the United Kingdom seeks to ensure a better trade relationship with the United States. “Look, we strive to secure a better trade relationship with the United States. I acknowledge that the week that is coming is important. There are further discussions today, so let’s see where we will arrive in the next few days, ” added herself.