British Treasury chief Rachel Reeves promised on Monday not to return to an era of public spending cuts despite the dire state of the U.K.’s national finances, as she tried to inject a dose of optimism after weeks of negative headlines for the country’s new Labour Party government.

By Alistair Smout, Andrew MacAskill and Elizabeth Piper LIVERPOOL, England (Reuters) -British finance minister Rachel Reeves ruled out a "return to austerity" on Monday, trying to brighten the gloomy tone her party has adopted since its landslide election victory in July.

Chancellor has warned of tax rises in October Budget but will adopt a positive tone in Monday’s conference speech