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Chancellor Rachel Reeves said it would be “irresponsible” to rule out further tax rises following Labour’s historic budget.Ms Reeves has gambled on a £40bn tax rise in a bid to boost public services and grow the economy.She told the House of Commons that the increase – a record sum, equalled only by Norman Lamont in 1993 – coupled with a massive £32bn in extra borrowing was vital to “fix broken Britain”.Speaking to Sky News after the budget on Wednesday (30 October), the chancellor said: “I’m not going to make commitments to never change taxes again, that would be irresponsible, but this is a once-in-parliament budget to wipe the slate clean after the mess the Conservatives left us.” More

The UK’s first female chancellor Rachel Reeves has announced tax hikes that will raise an eye-watering £40bn in her historic Budget.Increases to employers’ national insurance contributions, stamp duty on second homes, and scrapping the VAT exemption of private school fees have all been confirmed, as well as a new duty on vaping and e-cigarettes.In regards to spending, Reeves promised to invest the money raised into “fixing public services” – including big investments into the NHS, building more homes, and extending HS2 to London Euston.The Independent takes a closer look at the key takeaways from the historic budget on Wednesday (30 October). More

Rachel Reeves delivered a powerful message to “girls and women” as she became the first female chancellor to deliver the UK Budget on Wednesday (30 October).Addressing parliament at the start of her Budget, Ms Reeves said: “This is the first Budget in this country’s history to be delivered by a woman. I am deeply proud.“Girls and young women everywhere, I say, let there be no ceiling on your ambitions, your hopes and your dreams.”Ms Reeves has today announced tax hikes that will raise an eye-watering £40bn, but she also revealed a boost to NHS spending. More

Rachel Reeves mocked Tory leader Rishi Sunak as she detailed Labour’s Budget in the House of Commons on Wednesday, 30 October.The chancellor announced that the government will introduce an adjustment to air passenger duty meaning an increase of no more than £2 for an economy class short-haul flight, but was taking a different approach to private jets — increasing the rate of air passenger duty by a further 50 per cent.Joking that Mr Sunak’s “ears pricked up” at the mention of air passenger duty, Ms Reeves said: “That is equivalent to £450 per passenger for a private jet to, say, California?” More

Rishi Sunak’s final appearance at the despatch box as Conservative party leader was marked by a jovial exchange with Sir Keir Starmer during Prime Minister’s Questions on Wednesday, 30 October.The prime minister thanked his predecessor for his “decency” and wished his family the best for the future.They laughed together as Mr Sunak, who is MP for Richmond and Northallerton in North Yorkshire, told MPs: “I’m particularly looking forward to doing the coast to coast walk that runs through my constituency and many others.”Can I ask the Prime Minister to ensure that the Coast-to-Coast (walk) does indeed become Britain’s greatest National Trail, and in preparation for my return to the back benches, would he meet with me to discuss it?”Sir Keir Starmer replied: “I thought he was about to ask me to join him on the walk, but certainly I will meet him.” More

Rachel Reeves issued a final message before Labour’s first Budget in 14 years was presented to the public on Wednesday, 30 October.In a video posted to her social media pages, the chancellor described how she “likes graphs and spreadsheets” and has been “poring over the detail” of the government’s upcoming economic announcements.Labour vowed not to raise taxes on “working people” in the days before the Budget announcement.However, other rumoured tax rises led critics to question who falls under Labour’s definition of “working.”The prime minister said the UK’s working people “know exactly who they are.” More

Martin Lewis has issued a pension credit warning to chancellor Rachel Reeves just hours before the autumn UK budget.The Martin Lewis Money Saving Show returned on Tuesday (29 October), and saw the financial guru take a question about the winter fuel payment from a woman whose husband died just two weeks ago.The woman wanted to know if she would be eligible for pension credit.Mr Lewis said: “You have to be on an income of under £11,400 to be eligible. It’s a very tight means test and is critically underclaimed.”Mr Lewis then revealed he will host a budget special of his show on Thursday and hopes the chancellor will join him.He warned: “I will be talking about winter fuel payment without you chancellor, so you may as well be here. It would be a lot better.” More

Chancellor Rachel Reeves will make history as the first female chancellor to present the UK Budget on Wednesday (30 October).Ms Reeves has repeatedly warned the Budget will involve “difficult decisions”, blaming the last Conservative government for leaving a £22bn black hole in the public finances.On Tuesday (29 October), the chancellor took questions from MPs in the House of Commons, where she vowed “no working people will have higher taxes” after she unveils Labour’s first Budget since 2010.From targeted tax increases to education investment, The Independent’s Camille Chorley takes a look at some of the key measures set to be announced. More