The Latest Breaking News from Rachel Reeves

From everyday costs, to the impact on your savings and pensions - our money writer explains

Rachel Reeves’s second budget landed in an unusual fashion. Before she delivered it, most of the key details had already been revealed accidentally by the Office for Budget Responsibility.

Rachel Reeves did not deliver a climate focused budget on November 26 2025. The Chancellor’s statement was framed around growth, productivity and the cost of living. Climate change and net zero were not primary headings. The word “climate” barely featured in her speech.

Full Fact takes a look at claims about tax thresholds, NHS appointments, unemployment and house building.

Cap on inheritance tax paid by their offshore trusts will only help those worth more than £83m, say experts

By freezing the threshold, more graduates will be pushed into repayment as wage growth increases their salaries

Saving expert suggested 'guidance' for young savers instead of limit

Once again the capital did not get a single mention in the Chancellor’s speech

Labour MPs welcome scrapping of two-child benefit cap but worry about hefty future tax increases on constituents

The move follows increasing anger from customers and consumer groups over rising mobile and broadband tariffs.

Rachel Reeves’s budget was seen as a “make or break” moment for the chancellor and the government, which is suffering from low approval ratings and rapidly fading public confidence. At the same time, threats of a leadership challenge and the impending May elections mean Keir Starmer has a tricky path…