Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email Email * SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice
After months of speculation and briefings, Rachel Reeves has unveiled £26bn worth of tax rises in her much-anticipated Budget.
But in an unprecedented leak just minutes before the chancellor got to her feet, the Office for Budget Responsibility (OBR) published its response to the statement, leaking her entire plan before she even had a chance to unveil it.
The tax hikes, which will leave her with £22bn in fiscal headroom, come on top of the £40bn of tax rises unveiled last year and are set to be delivered by freezing personal tax thresholds and a host of smaller measures. It brings the tax take to an all-time high of 38 per cent of GDP in 2030-31.
Here are the key takeaways from the chancellor’s long-awaited – but much-trailed – budget.
Economic growth
The OBR has predicted that economic growth will be weaker than expected from 2026 to the end of the current Labour government, despite having increased its forecast for economic gr
Continue Reading on The Independent
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.