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Live Blog
Stay tuned for unrecorded updates connected today's Budget
- Updated: 7:03, 30 Oct 2024
BRITS are bracing for a taxation raid successful Rachel Reeves' gloomy Halloween Budget - with fags, booze and benefits astatine risk.
Today is the archetypal Labour fund for 14 years - and the archetypal ever to beryllium delivered by a pistillate Chancellor.
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A raft of taxation hikes are acceptable to deed arsenic Rachel Reeves tries to plug the "£22billion achromatic hole" she says she's recovered successful authorities accounts.
Writing successful The Sun connected Sunday, Reeves said she volition person to marque "tough decisions" - but the symptom volition beryllium worthy it.
We revealed the Chancellor volition pledge £500million much for fixing roads and ending the pothole crisis.
WATCH RACHEL REEVES ON NEVER MIND THE BALLOTS
She volition spend billions freeing up 2 cardinal other NHS appointments.
And more than 1million workers are acceptable to get a bumper wage rise arsenic the National Living Wage goes up
But Reeves is acceptable to hike autobus fares and frost income taxation thresholds for years.
Carers and homebuyers could beryllium among the winners successful today's Budget - portion drivers and pensioners could beryllium the worst hit.
Sir Keir Starmer has vowed to listen to Sun readers up of a make-or-break Fuel Duty decision.
But voters person been warned to brace themselves for a salvo of taxation rises.
Stay tuned for unrecorded updates connected today's Budget - and what it means for you.
BRITAIN’S MOST MEMORABLE BUDGETS
Today is the archetypal Labour fund for 14 years - and the archetypal ever to beryllium delivered by a pistillate Chancellor.
Brits are bracing for a raft of taxation hikes arsenic Rachel Reeves tries to plug the "£22billion achromatic hole" she says she's recovered successful authorities accounts.
Here are 5 different budgets which person caused a disturbance implicit the years.
1979 - Geoffrey Howe, Conservative
Margaret Thatcher's Chancellor Geoffrey Howe slashed some the apical complaint of income taxation and the modular rate.
He besides doubled VAT - shifting the taxation load from income to depletion successful a immense alteration for Brits.
Howe besides eased controls connected overseas speech successful a bid to power inflation.
The fund signalled a monolithic interruption from the past Labour authorities and acceptable the signifier for decades to come.
1988 - Nigel Lawson, Conservative
Nigel Lawson (dad to home goddess Nigella) massively slashed income taxation again.
The lawman Commons talker doubly cleared the enclosure amid noisy protests from Labour MPs slamming the taxation cuts.
Lawson besides acceptable disconnected a spot bonanza by announcing an extremity to treble owe taxation alleviation for couples buying homes.
1993 - Norman Lamont, Conservative
In March 1993 the system was inactive reeling from Black Wednesday, erstwhile the lb crashed retired of the European speech complaint mechanism.
Lamont announced taxation rises including VAT connected home state and electricity.
Later that twelvemonth Lamont's successor Ken Clarke froze idiosyncratic taxation allowance and brought successful stealth taxes connected security and level passengers.
The Lamont and Clarke budgets marked the extremity of the Tories's scything taxation cuts - and acceptable the signifier for Labour's instrumentality to bureau successful 1997.
2002 - Gordon Brown, Labour
Brown raised nationalist security by a penny connected the lb to money higher spending connected the NHS.
The aboriginal PM had fretted implicit a imaginable backlash from voters who had re-elected Labour successful 2001.
But helium managed to propulsion disconnected the largest emergence successful wellness spending successful the past of the NHS.
2009 - Alistair Darling, Labour
Labour's past fund earlier contiguous came amid the recognition crunch and soaring unemployment.
Darling ramped up taxes and borrowing successful a bid to capable up draining Treasury coffers.
Tory person David Cameron blasted Labour's 'utter mess' - and was successful powerfulness a twelvemonth later.
2022 - Kwasi Kwarteng, Conservative
Kwarteng unveiled his economical bundle little than a period aft becoming Liz Truss's Chancellor.
Technically, it was a fiscal connection alternatively than a fund - but it turned retired to beryllium conscionable arsenic seismic.
Rising Tory prima Kwarteng announced £45billion successful taxation cuts including a driblet successful each rates of income tax.
Markets took frights and the lb went into freefall earlier the Bank of England waded successful to halt a tally connected UK pension funds.
Mortgage rates soared and Kwarteng was retired of the occupation conscionable 3 weeks later.
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