ANXIOUS Labour ministers have started appealing to Prime Minister Sir Keir Starmer to protect them from the ferocious spending cuts being demanded by Chancellor Rachel Reeves.

Panic is spreading as the October 30 Budget announcement approaches and Ms Reeves struggles to close a “black hole” that appears to expand with every retelling.

Several ministers, mainly from the Cabinet’s social-democratic wing, have protested to Downing Street about the spending reductions that the Treasury is demanding.

Deputy Prime Minister Angela Rayner, who is responsible for housing, and Transport Secretary Louise Haigh are understood to be among those worried at the scale of the cuts. 

Education Secretary Bridget Phillipson, from the party’s right, unsubtly told the media today that “education is always a priority for a Labour government.”

Their departments are likely to be among those that have missed the deadline for agreeing their budgets with the Treasury and are now seeking the Prime Minister’s intervention.

But Sir Keir is likely to stand by his Chancellor, who is now apparently looking for £40 billion in cuts or revenue increases to eliminate the inherited deficit and free up funds for investment.

A Treasury source told the Times that the ministers were “using a classic trade union negotiating tactic. But we don’t have any spare cash lying around to give them.”

And Sir Keir’s spokesman said government departments would have to undertake reforms. 

He said: “Not every department will be able to do everything they want. There will be tough decisions taken.”

It is further believed that Ms Reeves will seek to raise the rate of capital gains tax paid on share sales, but not property transactions, from its present 20 per cent.