IFS says Reeves broke a manifesto pledge with £26bn tax rises and a move on national insurance, claiming growth was deprioritised. The PM rejects that, saying Labour kept its promise and that extra revenue is needed for the NHS, schools and measures to reduce child poverty.
Reeves’s Budget sets out £30bn in tax rises and record welfare spending. Income tax thresholds stay frozen, pushing about one in four workers into the 40% band. A new annual surcharge will apply to homes over £2m from 2028, and extra revenue is sought from pension contributions. OBR flags stagnant pay.
The Chancellor unveiled a Budget scrapping the two‑child benefit cap, forecast to lift 450,000 from poverty. Revenue will be raised via higher charges on £2m‑plus properties and increased duties on online gambling, signalling a shift toward redistribution and support for low‑income families.
Rachel Reeves unveiled a Budget with £26bn in tax rises, higher fuel duty and a £4.7bn pensions measure, while welfare spending heads to about £406bn. Critics call it the biggest tax squeeze in decades as growth stalls; the government says it’s needed to fund services and restore stability.
The Chancellor’s Budget freezes income tax and National Insurance thresholds for three years, expected to raise about £30bn via fiscal drag. Welfare spending increases, including scrapping the two-child limit. Critics say this breaks manifesto pledges; supporters argue it targets help where it’s most needed.
Leaked Budget plans suggest the Chancellor will prioritise revenue‑raising that hits pay packets while increasing public spending. Critics warn of extra pressure on households and growth; allies say it’s needed to fund services and safeguard stability.
The Chancellor’s Budget pulls millions into the higher rate through frozen thresholds and adds measures on property, pensions and savings. Welfare spending is projected to near £400bn over five years. Ministers say it funds services; critics argue it breaks earlier pledges.
The Chancellor announced £26bn in tax rises to fund £9bn for benefits and cost‑of‑living help, scrapping the two‑child cap. Fiscal drag moves 1.8m into a higher band; NI added to pension contributions; hikes target landlords, savers, investors and £2m homes. OBR forecasts weaker growth.
Rachel Reeves unveiled a £26bn revenue plan, with tax rises aimed at wealthier households and a continued freeze on income tax thresholds. She scrapped the two-child benefit cap and promised help with energy bills, saying everyone must contribute while protecting those most in need.
Reeves unveiled a tax-raising Budget: the freeze on personal thresholds is extended, salary sacrifice schemes will be capped, and higher earners and companies will pay more to fund expanded welfare and services. An accidental OBR leak pre-empted the plan. Markets liked the bigger fiscal buffer.