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The Latest Breaking News from Rachel Reeves

A budget to save Britain’s finances? More like Operation Save Our Skins

Only 20% of tax rises will go towards making people better off. The vast majority will be spent meeting Labour’s fiscal rules and paying for U-turns, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

Budget ‘papers over cracks’, say economists as UK growth forecasts downgraded

The Office for Budget Responsibility also pointed to a worsening short-term picture for inflation and unemployment.

Evening Standard

Millions more dragged into paying higher income tax in Reeves’s £26bn Budget squeeze

Chancellor admits ‘I am asking ordinary people to pay a little more’ as she unveils dozens of tax rises, but finally scraps the much-criticised two-child benefit cap

The Independent UK

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OBR’s leak was the only leak Reeves wasn’t responsible for in pre-budget shambles

Chancellor tried a different approach to this budget, revealing all her plans and causing chaos before she even delivered it

The Guardian - UK

‘A bit of a relief’: a City trading floor reacts to Reeves’s budget

After initial chaos caused by OBR leak, London financial traders say markets do not appear to have been upset

The Guardian - UK

Tax, spending and investment: Where the Budget ranks in history

The Government has committed to the longest sustained period of high spending since the Second World War.

The Independent UK

Taxi costs in London set to soar as Chancellor announces new tax on minicabs

During her Budget on Wednesday, Rachel Reeves revealed private-hire vehicles from ride-sharing apps such as Uber and Bolt will see 20% VAT added on to journeys

Evening Standard

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Budget does not go far enough in public service investment – Stormont minister

Stormont Finance Minister John O’Dowd said Rachel Reeves’ spending plan ‘strengthened the need’ for fiscal devolution in Northern Ireland.

Evening Standard

How will some workers’ pensions be affected by salary sacrifice changes?

Capping salary sacrifice for pension saving has been described as ‘a short-sighted tax grab which will lower pension saving.’

Evening Standard

What will the budget mean for economic growth? Experts give their view

Since the election last year, the UK government has said economic growth is its top priority, as a way to improve living standards, cut NHS waiting lists and ease pressure on household finances. But with the Office for Budget Responsibility predicting growth this year to be a below-average 1.5%, it…

The Conversation

IFS responds to £150 cut to energy bills pledged in Rachel Reeves’ Budget – will it work?

Some climate campaigners have criticised the move by Rachel Reeves to cut green levies

The Independent UK

Rachel Reeves dodges question on her future after Budget unveiled

Rachel Reeves dodged a question about whether she would still be chancellor at the next general election after unveiling a package of £26bn tax hikes in the Budget.

The Independent UK

The budget has averted an immediate crisis for Labour – but the danger is not over yet

Sense of relief among many Labour MPs but chancellor’s broad mix of measures leaves room for things to go wrong

The Guardian - UK

Racing celebrates ‘Axe the Tax’ Budget campaign victory after Reeves spares sport

Racing celebrated its ‘Axe the Tax’ Budget campaign victory on Wednesday after Rachel Reeves left the rate of duty on betting on the sport unchanged

The Guardian - UK

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The Independent UK

FM pledges more cash for tackling poverty after Reeves scraps two-child cap

First Minister John Swinney said money freed up by the Chancellor’s announcement would be used to help in the fight against child poverty.

The Independent UK

Stocks rise, pound firms after ‘tolerable’ Budget

Financial markets gave a guarded welcome to Chancellor Rachel Reeves’s plans on Wednesday.

The Guardian - UK

Labour MPs celebrate end of two-child benefit cap in Reeves’s budget

The Independent UK

Badenoch takes aim at Reeves over chancellor’s complaints of misogyny

Kemi Badenoch used her Bidget speech to launch an extraordinary attack on Ms Reeves, accusing her of ‘whining’ over sexism claims

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The Independent UK

‘I can’t afford to keep my heating on overnight - Reeves’ Budget doesn’t do enough for pensioners’

Elaine Yates says the cost of living for pensioners is not matched by government support after Rachel Reeves announced her second Budget

The Guardian - UK

Reeves’s tax-raising budget is crash-landing on an economy that is struggling for growth

Bond vigilantes may be reassured but the jury is out for households and businesses

The Independent UK

Sir Grant Shapps criticises ‘catastrophic’ budget after receiving knighthood

The former defence secretary criticised the ‘chaos’ he said surrounded Rachel Reeves’s Budget after receiving his knighthood from the Princess Royal.

The Guardian - UK

Millions of savers and investors to face higher tax bills after Reeves’s budget

Chancellor unveils measures that will affect Isas, pensions, and income from dividends, property and savings interest

The Conversation

Electric vehicle owners face new pay-per-mile tax – what could be the environmental costs?

Modern electric vehicles are transforming the roads with low noise, rapid acceleration and zero exhaust emissions. However, drivers of electric vehicles in the UK will now face a new 3p per mile charge and drivers of hybrid vehicles a 1.5p per mile charge.

The Independent UK

Tax calculator: Work out how Rachel Reeves’ Budget will affect your finances

Use our Budget calculator to determine whether Reeves’ package of measures will leave you better or worse off

Evening Standard

Campaigners and Labour MPs hail Rachel Reeves’ decision to scrap two-child limit

Ditching the policy will result in an estimated reduction of child poverty by 450,000.

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