Claim: The government inherited an unexpected £22 billion "black hole" in the public finances from the Conservatives.
Fact-check: Is Labour right to claim there's a £22 billion 'black hole' in the public finances? - Full Fact
Verdict: a treasury audit has forecast a £22 billion overspend in departmental day-to-day spending this year, but the extent to which this was unexpected or inherited is disputed. the institute for fiscal studies says some pressures could have been anticipated, but others do "indeed seem to be greater than could be discerned from the outside".
Organisation: Full Fact
Author: Hannah Smith
Date published: 2024-10-24T00:00:00