Rachel Reeves is expected to unveil a black hole in the public finances of around £20 billion, signalling that tax rises could be on the way.The Chancellor will on Monday set out the results of the spending audit she ordered Treasury officials to produce.Her update will reveal "the true scale of the damage the Conservatives have done to the public finances", a Labour source said.

Rachel Reeves is expected to unveil a black hole in the public finances of around £20 billion, signalling that tax rises could be on the way.The Chancellor will on Monday set out the results of the spending audit she ordered Treasury officials to produce.Her update will reveal "the true scale of the damage the Conservatives have done to the public finances", a Labour source said.