The Latest Breaking News from Budget

Exclusive: Budget watchdog is set to downgrade a key economic performance indicator for the UK in a move that could drive tax hikes – as chancellor tries to shift blame on to Tories

With a difficult Labour conference to come next week followed by the autumn Budget, the OECD’s conclusions have come at a bad time for Rachel Reeves

Levy on cab rides set to join other Budget disasters such as ‘tractor tax’ and ‘pasty tax’

Rachel Reeves will not deliver her set piece statement to the Commons until November 26

The housebuilding giant said the upcoming Budget on November 26 has added ‘additional risk’ to the outlook.

The industry could lose up to 111,000 job losses in little more than a year, warns trade body UKHospitality

The retail giant reports a substantial half-year loss but ‘optimistic’ it can turn it around with Christmas trading

However, the employee-owned group said it is still ‘well positioned’ to deliver profit growth for the full year.

COMMENT: As British workers make record withdrawals from their pension pots, amid fears that the chancellor is about to reduce the tax-free limit in her autumn Budget, James Moore worries that some people might be prompted to make bad decisions that will affect more than just their later years

Lenders have raised rates on some deals amid a ‘fraught political and economic climate’, with more expected to follow

Sources tell The Independent the chancellor favours raising capital gains tax and introducing a gambling levy