The Latest Breaking News from Rachel Reeves

The chancellor, on the morning-after media round, just scraped a no-score draw despite a pervasive sense of unkept promises

Critics say changes to inheritance tax and nature-friendly subsidies could break up family farms and risk food security

Chancellor Rachel Reeves insisted she had no alternative but to raise taxes in her first Budget.

Perhaps the most important long-term change announced in the first Labour budget are the new rules the government has set itself to fund the expansion of public services and increase public investment. These fiscal rules, which set out how much the government can borrow and spend, are seen as critical…