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I'm outside Parliament where Rachel
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Reeves has just delivered Labour's first
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budget since winning the general
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election and the first in history by a
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female Chancellor the long anticipated
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fiscal event set out the government's
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plans for tax and spending including
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raising the tax burden on Brits to a
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historic High Reeves announced some 40
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billion in additional taxes including
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hiking employers National Insurance
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contributions increasing capital gains
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tax and reforming inheritance tax she
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also confirmed plans to change how the
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government measures debt in order to
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free up billions to spend on
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infrastructure speaking in the Commons
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Reeves insisted my belief in Britain
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burns brighter than ever and the prize
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on offer is immense and the only way to
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drive economic growth is to invest
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invest invest but economic experts at
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the office for Budget responsibility who
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check the treasury's sums say that the
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borrowing increase is one of the largest
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fiscal loosenings in recent decades and
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that the budget slows the pace of
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deficit reduction they also say re's
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policies only temporarily boost growth
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but leave GDP largely unchanged in 5
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years despite labor calling economic
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growth their top priority pre-election
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and they summed up the budget as
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delivering a large sustained increase in
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spending Taxation and borrowing meaning
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a large State rishy sunak who made his
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final appearance in the House of Commons
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as opposition leader responded to the
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budget for the conservatives with a
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fiery speech he accused labor of a tidal
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wave of anti-business regulations of
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failing to grip public spending and
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claimed Reeves had fiddled the figures
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by changing the debt rules despite
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pledging not to as well as saddling our
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children and grandchildren with billions
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more debt sunak said it was broken
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promise after broken promise and that
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working people would pay the price
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adding that the government had not been
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straight with the British people in its
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election campaigning when it said its
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plans were fully funded the government
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argued the fiscal event was a once in a
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generation budget and that the situation
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they discovered when they entered office
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was significantly worse than we thought
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despite the OB saying it was not
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possible to judge whether the claims of
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a 22 billion pound black hole were
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correct as pressures could have been
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offset elsewhere by other savings here
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at cm we want to know what did you think
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of the budget let us know in the
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