How big is the ‘black hole’ Labour says is in public finances?

The Chancellor Rachel Reeves has told MPs the Government has inherited a £22 billion overspend from the Tories – and set out plans to reduce the deficit over the next two years.
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She accused the previous Government of continuing to make unfunded commitments "knowing the money was not there".

Among the cutbacks she announced – restricting winter fuel payments so only the poorest pensioners are eligible, and scrapping the plan to cap social care charges.
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