Rachel Reeves has sought to blame deteriorating public finances on a global rise in borrowing costs as she prepares to unveil a spring statement widely expected to include spending cuts.Speaking to broadcasters ahead of her statement on Wednesday, the Chancellor said Britain had not been "immune" from global increases in the cost of government debt.

Rachel Reeves has sought to blame deteriorating public finances on a global rise in borrowing costs as she prepares to unveil a spring statement widely expected to include spending cuts.Speaking to broadcasters ahead of her statement on Wednesday, the Chancellor said Britain had not been "immune" from global increases in the cost of government debt.