What are Rachel Reeves’s options after U-turn on income tax rates?

The chancellor is widely expected to increase taxes at the budget later this month as she attempts to find billions of pounds to repair the public finances. Photograph: Temilade Adelaja/PA

Rachel Reeves has ditched a manifesto-busting plan to increase income tax rates for the first time since 1975 in this month’s budget.

The chancellor is widely expected to increase taxes as she attempts to find billions of pounds to repair the public finances. She is expected to raise between £20bn and £30bn.