Major investigation launched into ‘outrageous’ early Budget leak

SNP claim budget ‘fails to deliver’ for Scotland 

The SNP has blasted Rachel Reeves’s autumn budget, claiming it “fails to deliver” for Scotland.

“This Budget has been absolute chaos from start to finish,” Shona Robison, Scotland's finance secretary, said.

“We needed a step change from the UK government with investment in public services, support for jobs and industry in Scotland and serious action on energy bills.

"Instead, we got a chaotic mess, and the increase in funding for the Scottish government will not even cover half the cost of the employer’s national insurance contributions brought in this year."

Ms Robison also hit out at the failure to abolish the Energy Profits Levy.

"Yet again, Scotland is an afterthought,” she said.

Rachel Reeve’s position ‘untenable’ after ‘clearly’ breaking promises, says Shadow Chancellor 

The Conservative's Sir Mel Stride has called on Rachel Reeves to resign from her position as Chancellor, as it is now “untenable”.

The Shadow Chancellor said she had “clearly” broken her promise not to increase taxes.

Sir Mel compared Ms Reeve’s new financial plans as a "smorgasbord that’s turned out to be a bit of a dog’s breakfast".

Reitering his warning shared on social media, the Shadow Chancellor said Britons were now braced for "about 43 different tax increases" which would be "borne by hardworking people up and down the country".

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Mel Stride blasts Rachel Reeves for "bad choices" over budget

Shadow Chancellor Sir Mel Stride has bluntly hit out at Rachel Reeves's budget.

In a video posted to X, he predicted tax rises in her new plan for the nation's finances would hit "hard-working people and businesses up and down our country".

Sir Mel suggested the gains would contribute to "putting up the benefits bill".

"That is the wrong choice," the Shadow Chancellor said.

Accompanying the video was the caption: "Rachel Reeves said she wasn't coming back for more. She just has.

"43 new taxes = £26 billion. Rachel Reeves has chosen higher welfare and higher taxes, and she’s chosen to send the bill to hardworking people," it read.

'Assault on aspiration!' Nigel Farage delivers damning verdict on Rachel Reeves's Budget tax raid

Reform UK leader Nigel Farage has accused Rachel Reeves of launching an “assault on aspiration” after the Chancellor unveiled £26billion in tax rises in her second Budget.

Mr Farage accused Ms Reeves of launching an "assault on aspiration", "killing off" dividend pensions and warned high-earners will continue to leave the UK in their droves to avoid sky-high taxes.

Speaking in Westminster, the Reform UK leader said: “One thing that was very clear to me watching the Budget was that we are in an economic doom loop and no one seems to recognise it, neither the last Conservative government nor this Labour Government.

“There isn’t really much truth being spoken about how much trouble we’re in.

"But there was one absolute truth that came from Rachel Reeves this morning and that was that this Government had a very bad inheritance.”

The Reform UK leader added: “This really was the ‘Alice through the looking glass’ Budget, with a healthy dose of socialism thrown in.

"Yes, words mean what I say they mean, not what they really mean. She talks about growth and yet the projections for the next few years, growth is continually being downgraded.

“They literally talked repeatedly about cutting debt and yet even in their first year they’ve borrowed £21billion more than they were forecast to borrow before they’ve even started.

“And the parts I found really difficult to swallow she talked about supporting entrepreneurs, not understanding that entrepreneurial people are generally deciding not to stay in this country, let alone invest in this country … None of what she really said today was true.”

Labour to TREBLE migrant accommodation spending despite Shabana Mahmood vow to close asylum hotels

Labour is set to treble spending on migrant accommodation despite the Home Secretary vowing to "close every single asylum hotel".

"I will close every single asylum hotel," Shabana Mahmood previously stated, as she promised to move foreigners housed in taxpayer-funded hotels to army barracks.

She said: "We have already halved the number of asylum hotels since their peak in Summer 2023. We will close every single asylum hotel, moving illegal migrants into military bases."

But despite this promise, it has now been revealed spending on migrant accommodation is set to reach in excess of £15billion over 10 years — more than treble the £4.5billion had been forecasted.

"Demand for asylum has grown and is now expected to cost £15.3billion over the next 10 years, revised up from the Home Office's previously proposed £4.5billion," it was confirmed by the Office for Budget Responsibility today prior to Chancellor Rachel Reeves' Budget.

It added "total costs are likely to continue to rise if asylum backlogs fall and some refugees move from central government-funded asylum accommodation to accommodation provided by local authorities".

The huge costs comes despite Ms Mahmood announcing major overhauls to the Government's asylum policy.

New measures include those granted asylum needing to wait 20 years before they can apply to settle in Britain permanently, while refugees will be returned to their home country as soon as it is deemed "safe".

She also announced the UK will stop granting visas to people from Angola, Namibia and the Democratic Republic of Congo if their governments do not rapidly improve co-operation on removals.

Despite this, net migration is forecasted to rise over the next five years, despite Labour pledging to bring the number down.

Research shows, by 2030, net migration will surpass 350,000 and run close to 400,000.

READ THE FULL STORY HERE

'She's raised the white flag!' Rachel Reeves accused of unleashing 'mess of painful tax rises on working people'

Rachel Reeves has been accused of unleashing a "mess of painful tax rises on working people" after delivering her second Budget in the House of Commons.

Callum Price, communications director of the Institute of Economic Affairs said: "The Chancellor has raised the white flag in the battle for economic growth. Instead of putting it front and centre of her plans, taking the necessary radical action to fix our tax system and strip back public spending to a sustainable level, she has instead prioritised keeping her backbenchers onside and doing her best to avoid painful headlines.

"The result is a mess of painful tax rises on working people, exactly the same people she pledged to protect, and the very people and businesses who drive economic growth.

"Where there should be a real vision and tangible plan to return economic dynamism to Britain, deliver the growth that could end our doom loop and improve the livelihoods of every Briton, we have been given yet another record high tax burden being used to support yet further swelling of the state."

Ed Davey demands Keir Starmer betrays Brexit with new EU trade deal

Liberal Democrat leader Sir Ed Davey has put pressure on Sir Keir Starmer to negotiate a new trade deal with the European Union.

Sir Ed said: “This Government was elected on a promise of tackling the cost of living and growing the economy and this is the second Budget where it’s failed to do either.

“For millions of people struggling with higher bills, all this Budget really offers is higher taxes.

"The OBR sets it out in black and white. Disposable income [and] living standards are down thanks to this Budget.

“Surely the Chancellor should have learnt from her first failed budget that you cannot tax your way to growth.”

Sir Ed called for a new trade deal with the European Union and a new customs union with the trade bloc, claiming these measures would grow the economy by cutting red tape.

“She is like a doctor who has diagnosed the disease but refuses to administer the cure, refusing to take up our plan for a new deal with the EU.”

'Cliff-edge!' Campaign group issues dire economic warning after Rachel Reeves delivers Budget 

John O’Connell, chief executive of the TaxPayers' Alliance, said: “The Chancellor’s budget benefits bonanza will be paid for by hard-working taxpayers through their incomes, pensions, property, savings and beyond.

“The pettiness of this Government and its unquenchable thirst for cash even extends to milkshakes.

"And the catastrophic content of this Budget is only matched by the utter shambles that has been the process, capped off by the extraordinary leak from the OBR.

“Rachel Reeves needs to urgently change course, by drastically reducing the benefits bill, bringing in targeted, growth-generating tax cuts and deregulating the economy. We are now dangerously close to the cliff edge.”

Rachel Reeves is not a victim of misogyny or ‘mansplaining’, Kemi Badenoch claims

The Leader of the Opposition has also claimed Rachel Reeves is not a victim of either misogyny or "mansplaining".

Kemi Badenoch said: “Her speech today was an exercise in self-delusion. Today she had an opportunity to apologise and show some humility.

"Instead we’ve been fed puff pieces in the Times and the FT showing a woman wallowing in self-pity wallowing about ‘mansplaining’ and misogyny.

“Let me explain to the Chancellor, woman to woman, people out there aren’t complaining because she’s female, they’re complaining because she’s utterly incompetent.

"Real equality means being held to the same standards as everyone else. It means being judged on results.”

Sir Keir looked to reassure his Chancellor following Mrs Badenoch's attack, prompting the Tory leader to quip: “Is he mansplaining to you, by the way? Is he mansplaining? Do you want some help?

"Would you like some help? What the Prime Minister should do is grow a backbone and sack her.”

Kemi Badenoch blasts Chancellor's 'Benefit Street Budget' and calls on Rachel Reeves to resign over OBR leak

Kemi Badenoch has blasted Rachel Reeves's second Budget as a "total humiliation" as the Tory leader called on the Chancellor to resign following today's unprecedented OBR leak.

Rising to her feet after Ms Reeves delivered her Budget, Mrs Badenoch said: “It’s a total humiliation, last year she put up taxes by £40billion, the biggest tax raid in British history.

"She promised she wouldn’t be back for more, she swore it was a one-off, she told everyone that from now on it would be stability and she would pay for everything with growth.

"Today, she has broken every single one of those promises. If she had any decency, she would resign.

“At the last Budget, she said she was proud to be the country’s first ever female Chancellor.

"After this Budget, she will go down as the country’s worst ever Chancellor. Labour are hiking taxes to pay for welfare. This is a Budget for Benefit Street, paid for by working people."

Taking aim at the Chancellor over the OBR leak, Mrs Badenoch added: “There is no growth and no plan because Labour focus on settling scores and scratching the itches they had in opposition.

"She promised stability, she delivered chaos. Just look at the circus around this Budget. First the leaks, then more leaks to try to undo the damage.

“Calling panicky press conferences, U-turning on her U-turns, rolling the pitch one day only to plough through it the next.

"She had the cheek to talk about stability, she has become the first Chancellor in history to release the whole Budget ahead of time.

“This is extraordinary. It tells you everything you need to know about her grip on the Treasury, she’s making the UK a shambolic laughing stock to investors and if she doesn’t resign for breaking her promises, she should sure as hell go for this.”

Keir Starmer's 'dystopian' digital ID card scheme to cost £1.8BILLION over next three years

The roll out of Labour's planned digital ID cards is set to cost £1.8billion over the next three years, it has been revealed.

The Office for Budget Responsibility's (OBR) report, released early in what it branded a "technical error", has unveiled the cost of the controversial ID scheme for the first time.

It reads: "The implementation of digital ID cards is provisionally forecast to cost £1.8billion in total over the next three years, split across £0.5billion RDEL and £1.3billion CDEL.

"The Government has announced its intention to meet the costs of this through existing DEL budgets, however no specific savings have yet been identified."

READ THE FULL STORY HERE

​Rent prices set to soar as OBR issues stark warning for property market

The OBR report has warned that the measures announced by Rachel Reeves will cause rent prices to soar.

This comes with a warning that the erosion of private landlord returns will reduce the supply of rental property, thus forcing upward pressure on prices for tenants.

The report said: "The measures announced in this Budget reduce returns to private landlords, following various measures over the past 10 years that have also reduced returns.

"This successive eroding of private landlord returns will likely reduce the supply of rental property over the longer run.

"This risks a steady long-term rise in rents if demand outstrips supply."

READ THE FULL STORY HERE

Rachel Reeves provides major update on fuel duty amid fears drivers could see costs skyrocket

Drivers have been handed a major lifeline after Rachel Reeves announced an extension to the fuel duty freeze until September 2026.

The move was unveiled today by the Chancellor, who shared her intent to back drivers by extending the freeze by a further six months.

Fuel duty has been repeatedly frozen at 5p since 2011, with the current rate for standard petrol and diesel being 52.95p per litre.

But as more cars have become electric due to the Zero Emission Vehicle mandate push, the Chancellor has been under growing pressure to address rapidly falling tax receipts.

Ms Reeves told Parliament: "I know that the cost of travelling to and from work is still too expensive, so I am extending the 5p cut until 2026. I am bringing in new rules to mandate petrol forecourts, empowering drivers to find the cheapest fuels, saving the average household £40 a year."

READ THE FULL STORY HERE

State pension overhaul from Rachel Reeves as thousands to lose access to full payments in Budget shock

Chancellor Rachel Reeves has confirmed an overhaul to the state pension regime with thousands of retirees living abroad will be expected to pay more to access full payment entitlement.

In her Budget statement, the Chancellor unveiled plans to abolish voluntary class 2 National Insurance contributions for people living abroad.

Thanks to this contribution scheme, Britons who are self-employed are able pay for National Insurance credits in order to qualify for their full, new state pension entitlement.

As well as this, Ms Reeves announced an increase in the number of years someone has to have lived in the UK to claim a pension.

READ THE FULL STORY HERE

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Rachel Reeves pushes ahead with abolishing two-child benefit cap 

Rachel Reeves has announced she will scrap the two-child benefit cap in April next year.

Ms Reeves claimed the decision to abolish the two-child benefit cap would lift 450,000 children out of poverty.

The fiery exchange came after Tory MPs heckled the Chancellor in the House of Commons.

“It’s amazing what people get so angry about,” Ms Reeves said.

The Chancellor added: “I think our constituents have heard all they need to from the party opposite today.

“We on this side of the House do not believe that the solution to a broken welfare system is to punish the most vulnerable children.

"We are lifting 450,000 children out of poverty with the end of the two-child limit. Combined with other actions we are taking this Labour Government is achieving the biggest reduction in child poverty over a Parliament since records began.

"That is the difference that this government is making.”

Electric car drivers handed £1.5billion in Budget despite being slapped by hated pay-per-mile taxes

Electric car drivers across the country have been backed with £1.5billion in new investment to help millions of petrol and diesel drivers switch to cleaner vehicles.

The Chancellor has confirmed a huge £1.5billion funding package for motorists to support its Electric Car Grant and install more electric vehicle charging points across the country.

Around £1.3billion will be given to additional funding for the Electric Car Grant, which is already backed by an initial investment of £650million.

The incentive helps motorists save up to £3,750 off the price of a new electric vehicle with a list price of £37,000 or less, with more than 40 models eligible for the saving.

READ THE FULL STORY HERE

Chancellor defends income tax threshold freeze - just 12 months after claiming it would break manifesto

Rachel Reeves has defended her decision to freeze income tax thresholds just 12 months after admitting it would break Labour's 2024 manifesto.

The Chancellor told MPs: “To break the cycle of austerity we need a fair and sustainable tax system.

"One that generates reliable revenues to fund the public services we all use and supports investment to grow our economy. That does mean that today I am asking everyone to make a contribution.

“The previous Conservative Government froze personal tax thresholds from 2021 until 2028.

"And today I will maintain all income tax and equivalent National Insurance thresholds at their current level for three further years from 2028, while ensuring that people only in receipt of the basic or new state pension do not have to pay small amounts of tax through Simple Assessment from April 2027.”

Ms Reeves added: “I know that maintaining these thresholds is a decision that will affect working people, I said that last year, and I won’t pretend otherwise now.

“I am asking everyone to make a contribution, but I can keep that contribution as low as possible because I will make further reforms to our tax system today to make it fairer, and to ensure the wealthiest contribute the most.”

Nigel Farage is 'Russian asset' and Zack Polanski would send inflation soaring, jokes Rachel Reeves

Reform UK leader Nigel Farage is a "Russian asset", Rachel Reeves has told MPs.

Speaking in the House of Commons, the Chancellor said: “We are ramping up sanctions on Russia and we are freezing known Russian assets.

“And let me be clear, I don’t mean the Honourable Member for Clacton.”

Ms Reeves's attack on Mr Farage came just minutes after she swiped at Reform UK over its plan to cut spending by £100billion.

Meanwhile, the Chancellor swiped at Green leader Zack Polanski over his former job as a hypnotherapist.

She said: “Now I know the leader of the Green Party is a keen hypnotherapist and believes he can achieve remarkable things using only the power of his mind.

“Unfortunately, the only things getting bigger under his approach would be the deficit and the rate of inflation.”

Rachel Reeves hikes 'luxury car tax' as drivers face £474 annual cost on popular vehicles

Rachel Reeves has announced a hike in the threshold of the Expensive Car Supplement to support the uptake of electric vehicles.

In documents leaked prior to the Chancellor's Budget announcement, the Office for Budget Responsibility stated that changes would be made to the Expensive Car Supplement.

It states that the threshold of the ECS will be hiked from £40,000 to £50,000 in April 2026 at a cost of £500million in 2030/2031.

This charge is levied on motorists for five years once the vehicle is first registered, totalling £2,370 for a car purchased in 2025/2026.

READ THE FULL STORY HERE

Rachel Reeves takes aim at Nigel Farage over Reform UK's £100billion spending cuts

Rachel Reeves has taken aim at Nigel Farage over Reform UK's proposed £100billion public spending cuts.

The Chancellor said: "There is Reform, who promise more than £100billion of cuts with no detail on where those cuts will come from – a recipe for devastating damage to public services.

“People voted for a Labour government because they wanted roads that aren’t full of potholes, police on our streets, and an NHS they can rely on.

"And we’re delivering that: Waiting lists down by 230,000 and not just the two million appointments we promised, but an extra five million appointments already delivered since the election.”

Rachel Reeves announces cash ISA allowance cut to £12,000

Savers will see major changes to how they protect their money after Chancellor Rachel Reeves confirmed in her Budget that the annual cash ISA allowance will be cut to £12,000 from April 6 2027.

Ms Reeves told MPs the existing £20,000 threshold will be reduced, with £8,000 now being reserved for investment.

The stocks and shares ISA allowance remains at £20,000.

The £12,000 limit is higher than the £10,000 ceiling examined earlier in the policy process but still marks a notable tightening of the rules.

The announcement forms part of wider Treasury plans to boost stock market participation among British investors.

For years, individuals have been able to shelter up to £20,000 each year from tax in cash-based ISA products.

READ THE FULL STORY HERE

Rachel Reeves confirms HUGE pension change affecting millions of Britons

National Insurance will be charged on salary-sacrificed pension contributions above an annual £2,000 threshold from April 2029, raising £4.7 billion, the Office for Budget Responsibility said.

The Treasury is understood to be targeting the tax advantages of these schemes, which have grown increasingly popular amongst higher earners.

From April 2029, any pension contributions made through salary sacrifice above £2,000 a year will be subject to National Insurance.

According to the OBR report, contributions beyond the £2,000 threshold will no longer receive the National Insurance advantage and will instead be treated the same way as standard employee pension payments for tax purposes.

The move would see National Insurance applied at standard rates - eight per cent on salaries below £50,270 and two per cent on earnings above that level - to pension contributions beyond the proposed cap.

Salary sacrifice arrangements enable workers to exchange portions of their gross salary for enhanced employer pension contributions, avoiding both income tax and National Insurance on the redirected funds.

READ THE FULL STORY HERE

Rachel Reeves blasts Tories for productivity crisis

Rachel Reeves has blamed the Conservatives for the UK's productivity crisis after the OBR downgraded its forecast.

The Chancellor said: “We all know it is about the previous 14 years – the legacy of Brexit and the pandemic, and the damaging decisions of the party opposite. cutting public spending; leaving communities and entire regions behind; ...starving our economy of investment and weakening our public services.

“As a result of their review, the OBR are reducing their expectations for productivity growth by 0.3 percentage points to 1 per cent by the end of the forecast.

“They say today, and I quote: ‘Real GDP is forecast to grow by 1.5 per cent on average over the forecast period…due to lower underlying productivity growth.’ There is an impact on our public finances too – the OBR say that their productivity forecast will mean £16bn less in tax receipts by 2030.

“These forecasts are the Tories’ legacy, not Britain’s destiny. We beat the forecasts this year and we will beat them again: Boosting trade, not blocking it. Increasing investment, not cutting it. Championing innovation, not stifling it. Backing working people, not making them poorer.”

'Fair and necessary!' Chancellor defends £26billion tax raid

Rachel Reeves has defended her decision to launch a £26billion tax raid as MPs heckled the Chancellor in the House of Commons.

Addressing MPs, Ms Reeves said: “Today’s Budget builds on the choices we have made since last July to cut NHS waiting lists, to cut the cost of living, and to cut the debt and borrowing.

“No doubt, we will face opposition again. But I have yet to see a credible, or a fairer alternative plan for working people. These are my choices – the right choices for a fairer, a stronger, and a more secure Britain.”

After the Deputy Speaker was forced to intervene to quell heckles from opposition MPs, Ms Reeves added: “I’m happy for them to shout as much as they like, as long as they do it from the Opposition benches where they can’t cause any further damage.”

Rachel Reeves throws OBR under bus by blasting watchdog for 'serious error' 

Rachel Reeves has blasted the Office for Budget Responsibility after the fiscal watchdog released its Budget report 30 minutes before the Chancellor started addressing MPs.

The Chancellor described the leak, which the OBR has since apologised for, as a "serious error" amid calls for an investigation from top Tory Sir Mel Stride.

Mel Stride warns OBR Budget leak could be a 'criminal offence' as Tories demand inquiry

Shadow Chancellor Sir Mel Stride has warned today's OBR Budget leak could be a criminal offence as he raised a point of order in the House of Commons.

“This report contains market-sensitive information," Sir Mel said.

"It is utterly outrageous that this has happened and this leak may indeed constitute a criminal act.”

Gilt market CHAOS as borrowing costs soar in response to Budget leak

UK borrowing costs fell before rising exponentially in anticipation of Chancellor Rachel Reeves's Budget, adding further pressure to the Labour Government and its handling of the economy.

The 10-year gilt dived to 4.426 per cent, before rapidly hiking to over 4.5 per cent ahead of the Chancellor's reforms, which are expected to include an extension to the existing tax threshold freeze.

Just minutes before the Budget, the market dived once more before hiking to 4.533 per cent as Government borrowing soared suddenly, following the release of the Office for Budget Responsibility (OBR) document 90 minutes ahead of schedule.

READ THE FULL STORY HERE

Pay-per-mile car taxes confirmed for millions of drivers as Rachel Reeves unveils major changes

Chancellor Rachel Reeves is expected to finally confirm pay-per-mile car tax changes after weeks of confusing U-turns from Labour, in a blow to millions of drivers.

The changes come ahead of the Chancellor's speech in the Commons after a disastrous rollout saw documents from the Office for Budget Responsibility leaked ahead of her speech.

The OBR documents have confirmed that "other tax changes" will raise £11billion by 2029-2030 including a new "mileage-based charge on electric and plug-in hybrid cars" from April 2028.

This will be around half the fuel duty rate paid by drivers of petrol cars, with the expectation that it will raise £1.4billion.

It states that the introduction of the pay-per-mile scheme will offset around one-quarter of the 0.6 per cent drop in GDP in revenue set to be lost from fuel duty by 2050.

READ THE FULL STORY HERE

Stealth tax raid from Rachel Reeves CONFIRMED as thresholds to remain frozen until 2030

Chancellor Rachel Reeves will keep tax thresholds frozen until at least 2030 in a move considered a stealth tax raid by many economists, according to the leaked assessment of her statement from the Office for Budget Responsibility (OBR).

The existing freezes to personal tax thresholds for another three years until 2030-31 Introduced by former Conservative Chancellor Jeremy Hunt, income tax and National Insurance thresholds for working Britons have been at the same level since 2021.

Based on the OBR's report, said the freeze in tax thresholds would result in 780,000 more basic-rate, 920,000 more higher-rate and 4,000 more additional-rate income tax payers in 2029/30.

Analysts have noted will result in millions paying more to HM Revenue and Customs (HMRC) due to the impact of fiscal drag, which occurs when incomes or inflation rise during a period of time when tax thresholds remain frozen.

READ THE FULL STORY HERE

Two-child benefit cap scrapped in UK Budget as Rachel Reeves unveils major benefit overhaul

Chancellor Rachel Reeves has announced that the two-child benefit cap will be scrapped, marking one of the most significant welfare changes in nearly a decade.

The policy, introduced under the Conservatives in 2017, restricted Child Tax Credit and Universal Credit to the first two children in most households.

Today’s Budget confirms that families will once again receive support for every child, at a projected cost of up to £3.5billion by the end of the Parliament.

The announcement emerged earlier than expected after the Office for Budget Responsibility accidentally published its headline forecast hours before the Chancellor stood up in the Commons.

The document shows that income tax thresholds in England and Wales will remain frozen until 2030, which the OBR estimates will raise £26billion. Scotland sets its own income tax rates and thresholds.

Ms Reeves has been under heavy pressure from campaigners and from within her own party to abolish the limit. The Scottish Government has repeatedly called the cap incompatible with tackling poverty.

READ THE FULL STORY HERE

OBR issues apology after accidentally publishing bombshell Budget documents

The Office for Budget Responsibility has apologised and is preparing to launch an investigation after a "technical error" resulted in bombshell Budget documents being released before 12.30pm.

“A link to our economic and fiscal outlook document went live on our website too early this morning," the OBR said.

"It has been removed. We apologise for this technical error and have initiated an investigation into how this happened.

“We will be reporting to our Oversight Board, the Treasury, and the Commons Treasury Committee on how this happened, and we will make sure this does not happen again.

“Our economic and fiscal outlook and supporting documents will be released when the Chancellor has finished her speech.”

PM defends No10 over briefing war and extends olive branch to Angela Rayner

Sir Keir Starmer has also insisted that none of last week's briefings against Health Secretary Wes Streeting came from inside No10.

He said: “I’ve been really clear about this, no one in No 10 has briefed against Cabinet ministers and the Health Secretary is doing a fantastic job.”

Kemi Badenoch fired back by joking that Sir Keir “asked Morgan McSweeney to investigate Morgan McSweeney and Morgan McSweeney concluded Morgan McSweeney was innocent”.

After the Tory leader warned Sir Keir against bringing Angela Rayner back into Cabinet, the Prime Minister added: "The former Deputy Prime Minister is the biggest social mobility story this country has ever told. She started from humble beginnings and fought her way to the very top.

“I’m very proud of what she’s achieved in politics, I’m very proud of everything she’s done for this Labour Government.”

Keir Starmer rejects call for leak inquiry - 'It's only 25 minutes early!'

Kemi Badenoch has put pressure on Sir Keir Starmer to hold an inquiry after the Office for Budget Responsibility's Budget report was released 30 minutes before Rachel Reeves unveils her fiscal measures.

The Tory leader said: “We’re talking about the leaks. The Prime Minister doesn’t seem to appreciate the impact of these leaks on the UK economy.

“Even the Chief Secretary to the Prime Minister has said these leaks are unacceptable. So will the Prime Minister launch an investigation into the Budget leaks and punish those responsible?”

However, Sir Keir dismissed calls for an inquiry.

The Prime Minister said: “It’s literally about 25 minutes before the Budget will be set out in all, where we’ll take further decisions, the Chancellor will set it out.”

Meanwhile, Shadow Business Secretary Andrew Griffith suggested the "shocking" OBR leak could be deliberate.

"Suspicion is this to save the embarrassing market fall from during Reeves' speech," Mr Griffith said.

'Complete shambles!' Kemi Badenoch hits out at pre-Budget chaos

Hitting out at the "complete shambles", Tory leader Kemi Badenoch said: “This has been the most chaotic lead-up to a Budget in living memory with resignations, hostile briefings and leaks galore, even just in the last 10 minutes, an unprecedented leak of the OBR analysis.

“These leaks have been so serious that even the former chief economist of the Bank of England has said, and I quote, that ‘Labour’s fiscal fandango is the single biggest reason why growth has flatlined’.

“Does the Prime Minister agree with Andy Haldane, and does he have an explanation for this complete shambles?”

Sir Keir replied: “We all know the biggest shambles in recent history, the Liz Truss budget. And what did she say at the time? ‘I think Liz Truss is 100 per cent right’. 100 per cent! Not much room for flexibility.

“We won’t be taking lectures from her. Matters for the OBR are for the OBR. The Chancellor will set out the Budget in just a few minutes’ time.”

GDP growth DOWNGRADED in OBR's assessment of Rachel Reeves's Budget

The Office for Budget Responsibility (OBR) has downgraded its growth forecasts for the UK economy in a post-Budget blow to Chancellor Rachel Reeves.

After Ms Reeves's fiscal statement this afternoon, the fiscal watchdog shared its updated forecast for gross domestic product (GDP) growth which has been central to the Labour Government's vision since returning to Number 10 Downing Street last year.

Based on the OBR's projections, Britain's GDP will ease to 1.5 per cent, 0.3 per cent less than previously forecast in March.

Furthermore, the fiscal watchdog for Government spending estimates there remains a £20billion black hole in the public finances which the Chancellor hopes to address with her announcements today.

Confirmation of the GDP figures came after the OBR published it assessment earlier than expected before the Budget.

Rachel Reeves's Budget measures PUBLISHED EARLY - major crisis for Labour as strict rules broken

Rachel Reeves's Budget measures have been accidentally published early in a major blunder from the Office for Budget Responsibility.

The OBR appeared to publish the 197-page document 30 minutes before the Chancellor will unveil her Budget to MPs.

Ms Reeves is preparing to announce the manifesto-busting pledge to freeze personal tax thresholds for another three years.

The decision is forecast to raise £8.3billion, the OBR's leaked document has revealed.

Hitting out at the "complete shambles", Tory leader Kemi Badenoch said: “This has been the most chaotic lead-up to a Budget in living memory with resignations, hostile briefings and leaks galore, even just in the last 10 minutes, an unprecedented leak of the OBR analysis.

“These leaks have been so serious that even the former chief economist of the Bank of England has said, and I quote, that ‘Labour’s fiscal fandango is the single biggest reason why growth has flatlined’.

“Does the Prime Minister agree with Andy Haldane, and does he have an explanation for this complete shambles?”

Sir Keir replied: “We all know the biggest shambles in recent history, the Liz Truss budget. And what did she say at the time? ‘I think Liz Truss is 100 per cent right’. 100 per cent! Not much room for flexibility.

“We won’t be taking lectures from her. Matters for the OBR are for the OBR. The Chancellor will set out the Budget in just a few minutes’ time.”

Mrs Badenoch fired back by putting pressure on Sir Keir to launch a leak inquiry.

She said: “We’re talking about the leaks. The Prime Minister doesn’t seem to appreciate the impact of these leaks on the UK economy.

“Even the Chief Secretary to the Prime Minister has said these leaks are unacceptable. So will the Prime Minister launch an investigation into the Budget leaks and punish those responsible?”

The Prime Minister replied: “It’s literally about 25 minutes before the Budget will be set out in all, where we’ll take further decisions, the Chancellor will set it out.”

Meanwhile, Shadow Business Secretary Andrew Griffith suggested the "shocking" OBR leak could be deliberate.

"Suspicion is this to save the embarrassing market fall from during Reeves' speech," Mr Griffith said.

READ THE FULL STORY HERE

Nigel Farage vows to fund legal defence of farmers arrested in Whitehall after Met Police crackdown on Budget protest

Reform UK leader Nigel Farage has vowed to fund the defence of several farmers arrested during a peaceful protest in Whitehall earlier today.

Tractors gathered outside the Houses of Parliament to protest against the Chancellor's inheritance tax raid on farmers last year.

Mr Farage said: “The farmers' planned protest on Whitehall has been cancelled by the police at the last moment.”

“They have come to London and are now being arrested. This is outrageous.”

“Reform UK will provide full legal support to every farmer protesting peacefully today.”

The Reform UK leader spoke out after Scotland Yard confirmed "several" people had been arrested.

Rachel Reeves steps out of No11 with red box as Britons brace for Budget tax raid

Rachel Reeves has stepped out of No11 ahead of delivering her tax-hiking Budget later today.

The Chancellor, who raised taxes by £40billion last year, posed with the red Budget box before heading over to the House of Commons in time for Prime Minister’s Questions.

Ms Reeves will get to her feet at 12.30pm, shortly after Sir Keir Starmer’s showdown with Tory leader Kemi Badenoch.

The Chancellor addressed her Cabinet colleagues in No10 earlier this morning, with Downing Street releasing a picture of Ms Reeves alongside the Home Secretary Shabana Mahmood and Foreign Secretary Yvette Cooper.

Keir Starmer leaves No10 as PM prepares for pre-Budget showdown

Sir Keir Starmer has left No10 following this morning's Cabinet meeting.

The Prime Minister will face Kemi Badenoch in his weekly showdown with the Tory leader in the House of Commons at 12pm.

Prime Minister's Questions will end at its usual time of 12.30pm, with Rachel Reeves getting to her feet to deliver her Budget immediately after.

Rachel Reeves briefs Cabinet ahead of Budget

Rachel Reeves has been snapped briefing her Cabinet colleagues ahead of today's tax-hiking Budget.

The Chancellor was photographed alongside Home Secretary Shabana Mahmood and Foreign Secretary Yvette Cooper earlier this morning.

Ms Reeves will leave No11 in around 20 minutes, clutching her red box before making her way to the House of Commons.

Rachel Reeves' Budget set to hammer British drivers with pay-per-mile, new car taxes and more

Chancellor Rachel Reeves will unveil the highly anticipated Autumn Budget later this afternoon, with drivers expected to be impacted by a number of new measures.

From 12.30pm, the Chancellor will begin speaking at the Despatch Box in Parliament and outline the Government's spending plans as it battles against a funding black hole.

Experts have pointed to several measures that could be introduced or scrapped by the Government, including changes to fuel duty, new car tax regulations, and even adjustments to VAT rules.

GB News has rounded up all of the possible changes that could arise for motorists in Rachel Reeves' Budget later today.

READ THE FULL STORY HERE

Rachel Reeves could push drivers back to petrol and diesel cars as pay-per-mile taxes make EVs unaffordable

Nearly half of UK motorists have warned that a proposed pay-per-mile car tax could reverse the financial benefits of switching to electric vehicles, potentially driving consumers back to petrol and diesel cars.

Research revealed that 46 per cent of respondents fear the proposed 3p per mile charge would make electric vehicles more expensive to run than fossil fuel counterparts.

The findings emerge as the Government considers introducing the new taxation system today at the Autumn Budget, raising questions about the future affordability of zero emission cars.

The survey results highlighted growing uncertainty among consumers about the true cost of electric vehicle ownership, particularly as ministers seek to balance environmental goals with Treasury revenue needs.

READ THE FULL STORY HERE

PICTURED: Rachel Reeves snapped preparing for second Budget

RECAP: Rachel Reeves rages at 'chaotic' Brexit in pre-Budget blame game just hours before statement

Rachel Reeves has laid into Brexit just hours before her second Budget in a pre-recorded address to the nation released this morning.

The Chancellor, who previously backed a second Brexit referendum despite her Leeds West & Pudsey constituents voting to leave the Brussels bloc, made the claim in a 130-second clip published on social media.

Ms Reeves also claimed Labour had started to see results in the past year with "wages rising faster than inflation, hospital waiting lists coming down, and our economy growing faster and stronger than people expected".

However, the Office for Budget Responsibility has downgraded its UK growth forecast in each year until the start of the next decade and predicts disposable incomes will remain stagnant.

During her pre-recorded clip, the Chancellor said: "But I know there is more to do... I know that the cost of living is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.

"I have to be honest that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.

"But I'm not going to duck those challenges, and nor will I accept that our past must define our future. It doesn't have to."

READ THE FULL STORY HERE

Nigel Farage issues dire warning ahead of Rachel Reeves's tax raid

Reform UK leader Nigel Farage has issued a dire warning ahead of Rachel Reeves's Budget later today.

In a short social media post, Mr Farage said: "As Rachel Reeves prepares to deliver her budget, I wonder how many more young and ambitious people will plan to leave the country by the end of the day."

The Clacton MP's comments come just days after the Office for National Statistics admitted it had underestimated how many Britons had left the country.

Net migration came down after revised data revealed the number of British nationals who had left the UK had risen from 77,000 to 257,000.

Meanwhile, Tory leader Kemi Badenoch shared footage of Ms Reeves pledging not to raise taxes following her maiden Budget last year.

Mrs Badenoch said: "If she breaks that promise today, the Government will have lost what little credibility it had left. Nobody should ever trust them again."

Short Budget history: From the red box to Chancellor's tipple 

Political geeks will know about a few surprising Budget traditions since Sir Robert Walpole delivered the first fiscal statement in 1733.

William Gladstone delivered the longest Budget speech 120 years later, standing in the House of Commons for a staggering four hours and 45 minutes.

Gladstone's arch-rival, future Tory Prime Minister Benjamin Disraeli, was on his feet for the shortest period when he spoke for just 45 minutes in 1867.

However, Disraeli fans could claim "Dizzy" managed to snatch Gladstone's crown with his five-hour Budget in 1852, albeit liberal-leaning history nerds would point out that only came after a break.

There has also been a longstanding tradition for Chancellors to enjoy an alcoholic beverage while delivering their Budget.

Kenneth Clarke was the last Chancellor to drink from the despatch box, opting for a glass of Scotch whisky in 1997.

Meanwhile, Nigel Lawson enjoyed a spritzer, Geoffrey Howe chose a glass of gin and tonic, Disraeli's choice was brandy and water, while Gladstone preferred sherry and beaten egg.

The iconic red Budget box, which Chancellors now pose with outside No11, was hand-crafted for Gladstone around 1860.

It was later lined with black satin and covered with scarlet leather.

Jim Callaghan became the first Chancellor to break with the tradition when he used a new box in 1965.

George Ward Hunt, an ancestor of ex-Chancellor Jeremy Hunt, is also said to have invented a key Treasury tradition in 1868.

“He delivered one budget but forgot his speech and had to dash back to No11 to fetch it," Mr Hunt told The Spectator.

"MPs were furious. His successor held up the red box and shook it outside No11 to prove he hadn’t forgotten his speech, and that’s how the tradition began."

Most Britons think Rachel Reeves could avoid tax hikes, damning poll reveals

A majority of Britons think Rachel Reeves could avoid putting up taxes, a damning new poll has revealed.

Polling conducted by More in Common found that 57 per cent believe the Chancellor has other options, with just 25 per cent saying Ms Reeves had no choice.

The figure jumps to almost three-in-four Britons among 2024 Reform UK and Tory voters, with half of Labour and Liberal Democrat supporters also disagreeing with the Chancellor.

'It's a multi-car pile-up!' Richard Tice issues dire economic warning as 'nanny' Rachel Reeves plots minimum wage hike

Reform UK's deputy leader Richard Tice has issued a dire warning about Rachel Reeves's decision to hike the minimum wage to £12.71.

"If you impose too many employment regulations, then people won't employ people," Mr Tice told GB News.

"If you raise the minimum wage by too high a percentage, by over double the rate of inflation, don't be surprised if businesses start not to employ young people."

The Boston & Skegness MP added: "This is an absolute tragedy by a Government that has not a clue what they're doing.

"They're essentially driving our economy into some nightmare multi-car pile-up over the cliff."

PICTURED: Cabinet Ministers arrive at No10 ahead of Budget

'I didn't ask you that!' Eamonn Holmes clashes with Labour Minister over Budget leaks

GB News star Eamonn Holmes has clashed with Darren Jones ahead of Rachel Reeves's Budget later today.

After Eamonn asked the Chancellor of the Duchy of Lancaster about Labour's hopes for the Budget, Mr Jones merely said he could not speculate about what Ms Reeves might say at 12.30pm.

Eamonn interrupted Mr Jones, raising his hand and saying: "Can I stop you there?"

"I am fed up of leaked stories coming from your end about what is in the Budget and the Chancellor going on and releasing a YouTube video last night," Eamonn added.

READ THE FULL STORY HERE

Keir Starmer promises to 'secure Britain's future' in pre-Budget statement

Sir Keir Starmer has promised to "secure Britain's future" in a short-statement released ahead of today's Budget at 12.30pm today.

In a social media post, the Prime Minister said: "Today’s Budget is about taking fair choices.

"It will focus on your priorities: cutting the cost of living, cutting waiting lists and cutting the national debt.

"This Labour Government will deliver strong foundations for our economy and secure our country’s future."

Minimum wage hike risks employment crisis for young Britons, top Tory warns

The decision to increase minimum wage to £12.71 risks an employment crisis for young Britons, a top Tory MP has suggested.

Speaking to GB News this morning, Richard Fuller, who serves as Shadow Chief Secretary to the Treasury, said: "It's nice when people get an increase in pay, but if you take last year's increase and this year's increase in the minimum wage, that's a 25 per cent increase in the cost of employing a young person.

"That will have an effect on whether businesses want to take the risk in taking someone who is new, and perhaps unskilled, and train them up.

"When you layer on top of that Labour's job-destroying Employment Rights Bill, which will put more regulations on small businesses, you look at the round of all that, and you have to say, what is that going to do to the employment prospects of young people in the first place?"

Lib Dem MP pushes Rachel Reeves to forge closer ties with EU

Rachel Reeves must forge closer ties with the European Union to deliver growth, a Liberal Democrat MP has told GB News.

Appearing on The People's Channel this morning, Calum Miller said: "We think there's a great opportunity for the Government to cut some of that red tape by improving our relationship with Europe, especially for our small manufacturers and exporters, who are tied up in that red tape and unable to grow their businesses.

"That's a real opportunity for the Government to get on with that relationship with Europe and improve the growth prospects for the country."

However, the Liberal Democrat MP also warned Ms Reeves not to repeat her 2024 Budget, claiming it "hit small businesses and hit households".

PICTURED: Tractors carrying anti-Labour placards spotted in Westminster

Richard Tice backs farmers as Budget battle-lines begin to be drawn

Reform UK's Richard Tice has backed protesting farmers this morning in his party's first assault on the Budget today.

He said: "Hundreds of huge tractors are already in central London horns, blaring lights flashing.

"Farmers are furious at the socialist assault by Labour on British food production."

Tractors seen cruising down M4 in defiant protest against Met Police restrictions

Columns of tractors have been seen rolling down the M4 ahead of a planned Budget day protest in central London.

Dozens of the farm vehicles, some draped in Union Flags and St George's Crosses, can be seen descending on the capital - in the face of Metropolitan Police restrictions banning tractors and agricultural machinery from Whitehall.

Farmers had planned to protest the hated Family Farm Tax outside Downing Street on Wednesday while Rachel Reeves delivered her Budget before the force took action.

Last night, it emerged the decision to muzzle the protest originated from "someone very high up", leaving organisers stunned, according to the Daily Express.

WATCH: GB News National Reporter Will Godley speaks to farmers ahead of a potential tractor protest in Westminster for the Budget

IN FULL: The 'dirty dozen' tax raids expected at the Budget

The 12 taxes expected to rise are on cash ISAs, Chinese imports, cycle-to-work schemes, dividends, electric vehicles, gambling, incomes, sugary drinks, salary sacrifice schemes, homes worth more than £2million, taxis and tourists.

Ahead of her "nightmare before Christmas" address, the Chancellor said she would "take the fair and necessary choices to deliver on our promise of change".

"I will not return Britain back to austerity, nor will I lose control of public spending with reckless borrowing," Ms Reeves vowed in a broadside against her outspoken critics on the Labour left.

Though rather than the "dirty dozen", the Chancellor has instead spun her hikes as three priorities: cutting the cost of living, cutting NHS waiting lists alongside delivering public service reforms, and starting to reduce the cost of public debt.

"I will push ahead with the biggest drive for growth in a generation," she added. "Investment in roads, rail and energy. Investment in housing, security and defence. Investment in education, skills and training.

"So together, we can build a fairer, stronger, and more secure Britain."

WATCH: Rachel Reeves previews the 2025 Budget in a message to Britain

Rachel Reeves has warned that Britons are "angry at unfairness" in the economy before she unveils her Budget.

In a filmed address ahead of the statement, the Chancellor railed against Brexit - but vowed the "past must not define our future".

She claimed Labour had started to see results in the past year with "wages rising faster than inflation, hospital waiting lists coming down, and our economy growing faster and stronger than people expected".

Ms Reeves continued: "But I know there is more to do... I know that the cost of living is still bearing down on family finances, I know that people feel frustrated at the pace of change, or angry at the unfairness in our economy.

"I have to be honest that the damage done from austerity, a chaotic Brexit and the pandemic were worse than we thought.

"But I'm not going to duck those challenges, and nor will I accept that our past must define our future. It doesn't have to."

Budget 2025: When and where to watch Rachel Reeves make her statement

The Chancellor is set to outline the Budget to the Commons at 12.30pm today - half an hour after Sir Keir Starmer takes PMQs at midday.

You'll be able to watch her statement LIVE HERE - and we'll bring you the latest news and analysis before, during and after it on this live blog.

WATCH: Farmer issues stark Labour warning as police U-turn on planned Budget protest: 'They'll need the army to stop them!'

The five taxes to watch out for in the Budget - and what they mean for your wallet - ANALYSIS by Elliot Keck

Despite, or perhaps because of, months of speculation, there’s little we can say with certainty about what exactly is going to be in this Budget, Elliot Keck of the Taxpayers' Alliance writes.

What we do know is that Rachel Reeves is expected to announce a package of tax rises aimed at balancing the books.

So what could actually be announced when the Chancellor reveals the Budget later today, and what will it mean for households up and down the country?

Elliot now reveals the main ones to watch - READ HIS FULL ANALYSIS HERE