Chancellor, who is expected to announce tax rises and spending cuts, says effect of leaving bloc worse than predicted

Rachel Reeves made the comments about the 2020 deal at a key meeting of the world's leading finance ministers and central bankers.

Chancellor, who is expected to announce tax rises and spending cuts, says effect of leaving bloc worse than predicted

Brexit ‘needlessly’ added costs to UK businesses, Rachel Reeves said, arguing ministers are now ‘unashamedly rebuilding our relations with the European Union’

Rachel Reeves also highlights austerity and lack of capital spending as key harms to UK economy