Treasury expected to uncover £20bn hole in public finances, Sky News understands

A Treasury audit is expected to reveal a £20bn black hole in public spending, Sky News understands.

Chancellor Rachel Reeves is due to give a speech on Monday when she will reveal the state of the UK's public finances and potentially prepare the ground for tax rises in the autumn.

Sky's Paul Kelso analyses the scale of the financial problems faced by Sir Keir Starmer's newly-elected Labour government, and asks what options are available to the chancellor to plug the spending gap.

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