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Rachel Reeves targets UK’s wealthiest in £26bn tax-raising budget

Chancellor axes two-child benefit cap and cuts energy bills paid for by mansion tax and freezing tax thresholds Analysis: ‘Tax-raising budget crash-lands on struggling economy’Budget 2025: key points at a glanceBudget 2025: what it means for youRachel Reeves targeted...

OBR warns Reeves’s budget still leaves public finances in ‘vulnerable’ position

Damaging events could knock finances off course, says Treasury’s independent forecaster as it downgrades growth outlookReeves says budget will cut living costs after shock OBR leakBudget 2025: key points at a glanceThe Treasury’s independent forecaster has warned that...

Labour MPs celebrate end of two-child benefit cap in Reeves’s budget

Abolition is popular with backbenchers and is expected to stabilise precarious positions of the PM and chancellorLabour MPs have publicly thrown their weight behind Rachel Reeves’s budget after she abolished the two-child benefit cap and unveiled a slate of...