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It came as the Government’s official forecaster cautioned that there was a ‘significant risk’ around meeting fiscal rules.

Chancellor Rachel Reeves said she was taking action to grow the economy but said she was battling global instability.

The Office for Budget Responsibility said regulations which ‘affect the flexibility of businesses and labour markets’ can have undesirable effects.

A fall in the cost of clothes was the main reason for a drop in the rate of inflation; however, imminent increases to the cost of services mean people may not feel any better off

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

Not even six months on from Labour’s first budget, and the world is a much-changed place. Geopolitical tensions and uncertainties, already high last year, have risen further, and with them the cost of the UK’s debt, while economic growth has stalled. As such, Chancellor Rachel Reeves has confronted an array…

The money expert focused on household income and rumoured ISA changes in his initial reaction

The chancellor insisted families would be better off even as further welfare cuts were announced

The chancellor has revealed how benefits will be changing for millions of claimants

Charities had already reported a surge in calls and visits to their advice pages following a welfare reform announcement last week.

The Chancellor said to be at the ‘mercy of events’ by not building up a bigger fiscal cushion