The Spectator(@spectator):Twelve billion pounds a month, £3 billion a week, or £420 million a day. If we divide the latest estimate of the size of the 'black hole' in the public finances facing Chancellor John Healey by the time he has been in office, the shortfall is starting to grow at an alarming rate. It is very clear that there is no easy way out of the mess he has inherited from his predecessor Rachel Reeves. All Labour Chancellors seem run out of money eventually, but Healey appears to be getting there in record time. ✍️ Matthew Lynn Article | https://t.co/2t6RaguzP0

The Spectator

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The Spectator is the most influential magazine in Britain, covering politics, world affairs, culture, lifestyle, news, comment and analysis.

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The Spectator@spectator

2026.10.12 12:40

Twelve billion pounds a month, £3 billion a week, or £420 million a day. If we divide the latest estimate of the size of the 'black hole' in the public finances facing Chancellor John Healey by the time he has been in office, the shortfall is starting to grow at an alarming rate. It is very clear that there is no easy way out of the mess he has inherited from his predecessor Rachel Reeves. All Labour Chancellors seem run out of money eventually, but Healey appears to be getting there in record time. ✍️ Matthew Lynn Article | | @mattlynnwriter

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