Good morning. If you haven’t noticed, the lead-up to this year’s budget has been unusually chaotic and drawn-out, with plenty of behind-the-scenes briefings and a whirlwind of speculation about what taxes will be hiked.
The challenge facing the chancellor, Rachel Reeves, is plugging a financial hole of around £20bn and raising money to fund the services voters demand, while also keeping taxes at an acceptable level. (If you think you’ve got what it takes, try our brilliant interactive budget game). The political backdrop to this budget is also significant – the prime minister is under siege, and needs to present something that will be well received by MPs.
