No 10 denies Reeves misled over black hole as OBR letter challenges warnings

The Office for Budget Responsibility appears to have challenged the Government’s grim scene-setting for the need to raise taxes at the Budget (Jacob King/PA) - (PA Wire)

The Chancellor did not mislead the public or markets when she warned of difficult decisions needed to fill a black hole in the public finances, Downing Street has said.

There were warnings ahead of the Budget that Rachel Reeves could face as much as a £20 billion gap in meeting her self-imposed fiscal rule of not borrowing for day-to-day spending.