The Latest Breaking News from Budget

Government borrowing for the current financial year is the highest on record outside the Covid-19 pandemic.

THE INDEPENDENT VIEW: Editorial: Britain deserves more than mixed messaging and policy drift. After weeks of premature proposals, the chancellor must deliver a Budget that provides the confidence and coherence so far lacking in both her stewardship and Labour’s broader economic direction

The chancellor hopes measures to tackle the cost of living will offset anger over tax rises

BUDGET 2025: With Labour’s Budget imminent, the chancellor faces a £22bn hole and a narrowing set of promises on tax. Property, long the quiet corner of the system, may finally be in her sights. Here Sean O’Grady and Albert Toth analyse the options available to Reeves

The Prime Minister declined to recommit to manifesto pledges on tax despite being asked 12 times during a broadcast interview

Labour prime minister came under pressure over Rachel Reeves’s upcoming Budget while on a trip to the G20 summit in South Africa

Experts say the price cap increase adds to pressure on the Government

Industry leaders say the government ‘would be out of its mind’ to adopt the proposals

Pensions UK and the Federation of Small Businesses have sent a joint letter to Chancellor Rachel Reeves, urging her not to change salary sacrifice.