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Evening Standard
Evening Standard
David Hughes

Reeves uses first Budget to hike taxes, increase borrowing and boost spending

Rachel Reeves Budget OBR PA Graphics Inflation NHS
Chancellor Rachel Reeves leaves 11 Downing Street with her ministerial red box before delivering her Budget in the Houses of Parliament (Jordan Pettitt/PA) - (PA Wire)

Rachel Reeves raised taxes to a historic high and sent borrowing soaring as she gambled on increased spending to boost growth and repair public services.

The Chancellor used her first Budget to announce £40 billion a year in extra taxes, with money being poured into schools, hospitals, transport and housing.

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