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What Time Is the Budget Today, Where Can I Watch It and What Will Rachel Reeves Say?
Budget includes tax and policy changes like freezing income tax thresholds and scrapping the two-child benefit cap, aiming to reduce debt costs and support families, officials said.
- On Wednesday, Rachel Reeves, Chancellor of the Exchequer and Leeds West and Pudsey MP, will deliver the Budget in the House of Commons focusing on cutting the cost of living, NHS waiting lists and debt.
- Facing a fiscal shortfall, the government prefers tax rises over deep cuts, as earlier this month Reeves dropped a headline income tax hike for a broader tax package to rebuild fiscal credibility.
- The extension to income tax thresholds freeze will run until 2031, projected by the Office for Budget Responsibility to add 780,000 basic-rate and 920,000 higher-rate taxpayers, while the National Living Wage rises 4.1% to �12.71, and the two-child benefit cap is removed.
- Campaigning and leaks marked the lead-up, with Government insiders warned and farmers blocking Westminster with tractors on Budget day protests.
- The Institute for Fiscal Studies estimates extending the freeze on thresholds could raise around £8.3 billion annually, with a high-value council tax surcharge on homes over £2m expected to generate about £400m.
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Total News Sources17
Leaning Left4Leaning Right2Center6Last UpdatedBias Distribution50% Center
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- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
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