Reeves not ‘playing fast and loose with people’s money’ amid tax U-turn reports

Rachel Reeves and Culture Secretary Lisa Nandy (left), who has insisted the Chancellor will not play ‘fast and loose’ with people’s money (Anthony Devlin/PA) - (PA Wire)

Rachel Reeves will not “play fast and loose with people’s money”, one of her Cabinet colleagues has said, amid reports the Chancellor has abandoned plans to raise income tax at this month’s Budget.

The Chancellor had been expected to hike income tax in the face of a yawning gap in her spending plans, hinting as recently as Monday that the alternative would be “deep cuts” to public investment.