The Latest Breaking News from Rachel Reeves

Retailers, housebuilders and hospitality firms all say Labour’s increase in employers’ national insurance contributions will lead to price rises.

Outspoken Wetherspoons boss Tim Martin is amongst those expressing concern

Changes announced in the Budget will come under scrutiny from the Treasury Select Committee on Wednesday.

Measures announced in Budget will come under scrutiny from the Treasury Select Committee on Wednesday

NIESR warns British economy would be one of the worst affected by protectionist policies

Victoria Atkins said the move had ‘consigned family farms and businesses to being sold off and split up as families cannot afford massive tax bills’.

£9.5bn spending gap wasn’t disclosed, ‘which under the law ... they should have done’, says fiscal watchdog

Chancellor Rachel Reeves’ debut budget pledged increases of £22.6 billion in day-to-day spending for the NHS and £3.1 billion in capital spending over the next two years. The increase in day-to-day spending is intended to fulfil Labour’s campaign promise of “40,000 more appointments per week” from their election manifesto.

The Health Secretary also vowed Labour would rebuild hospitals.