Jacob Rees-Mogg warned Chancellor Rishi Sunak “We are spending too much” prior to releasing his spring statement.

Reports suggest just hours before delivering his spring statement in Parliament, Jacob Rees-Mogg spearheaded the Cabinet rebellion against Rishi Sunak economic plan. 

The issue of government expenditure has sparked a ferocious debate. As a result of these concerns, senior government officials have said that Mr Sunak’s proposal does not go far enough to combat inflation and that if nothing is done, the United Kingdom faces an economic catastrophe. 

Britons are expected to suffer their worst living standards decline since records started in the late 1950s. 

It’s projected that by the end of the year, there will be a 40-year high inflation rate of about nine percent. 

Cabinet members demanded that Mr Sunak reconsider his ideas when they gathered to sign off on his Spring Statement in No10 on Wednesday morning. 

Authorities believe the Chancellor was asked by ministers to revisit the three-year expenditure plans published last year. 

According to some critics, the present economic condition makes it impossible for the government to spend excessively. 

“We are spending too much,” Mr Rees-Mogg reportedly said to Mr Sunak in an interview with The Sun. 

Kit Malthouse, the police minister, also called for a “reopening” of the Spending Review. 

At the same time, although some ministers were urging Mr Sunak to cut down on expenditure, Boris Johnson had been pressing for more. 

In an apparent warning to the chancellor, Prime Minister Johnson stated, “we must do more” to alleviate Britain’s cost of living crisis.