Rachel Reeves denied misleading over the Budget during a TV clash with Kemi Badenoch. She rejected claims she invented a £30bn gap to justify higher taxes, saying she relied on official briefings. The dispute continues as critics scrutinise her figures and messaging.

New figures show net migration down to 204,000, a sharp fall on last year. The PM welcomed the shift, with fewer arrivals for study and work after visa changes. However, asylum applications have reached a record and small‑boat arrivals are up. Ministers signal further tightening.

Rachel Reeves set out Budget 2025 with about £20bn in extra tax. Threshold freezes continue, a levy hits high‑value homes, and reliefs on savings and shares are tightened. Some investment incentives remain. The OBR says the tax burden will reach a record level, squeezing household incomes.

The chancellor sets out a Budget to plug a £35bn gap, lifting duties on alcohol and sugar and adding charges affecting nights away and takeaway coffee, meaning many will pay more. She also confirms a wage rise and a £15bn welfare boost, urging Labour MPs to back plans to balance the books.