Rachel Reeves launches initiative to cut public sector waste with £600 million investment from China

Rachel Reeves will lead a new initiative to reduce waste in the public sector, following a £600 million investment from China. This effort aims to improve efficiency and cut unnecessary spending, involving private sector collaboration. The announcement comes amid financial market turmoil and criticism of Reeves' recent trip to China. She faces pressure from both the Conservative Party and within her own Labour Party regarding her handling of the economic situation. Reeves' strategy mirrors similar efforts in the U.S. to streamline government spending. She has stated that maintaining strong ties with China is essential for the UK's economic growth.