The Latest Breaking News from Rachel Reeves

Chancellor says UK’s trading relationship with US is ‘absolutely crucial’ and promises not to be a ‘passive actor’

Lib Dems leader Ed Davey has Kemi Badenoch ‘s support for Trump shows she doesn’t reflect British values

Rolling coverage of the latest economic and financial news, as investors pile into Trump trades after US election result

First-time buyers in Haringey, Hackney, Richmond and Wandsworth face stamp duty rises of £11,250 next year, while those in Barking will pay £876 more

Changes announced in the Budget will come under scrutiny from the Treasury Select Committee on Wednesday.

Measures announced in Budget will come under scrutiny from the Treasury Select Committee on Wednesday

NIESR warns British economy would be one of the worst affected by protectionist policies

Victoria Atkins said the move had ‘consigned family farms and businesses to being sold off and split up as families cannot afford massive tax bills’.

£9.5bn spending gap wasn’t disclosed, ‘which under the law ... they should have done’, says fiscal watchdog

Chancellor Rachel Reeves’ debut budget pledged increases of £22.6 billion in day-to-day spending for the NHS and £3.1 billion in capital spending over the next two years. The increase in day-to-day spending is intended to fulfil Labour’s campaign promise of “40,000 more appointments per week” from their election manifesto.

The Health Secretary also vowed Labour would rebuild hospitals.