The Latest Breaking News on Chancellor seeks to calm markets amid jitters after Budget borrowing spree

Here are the biggest stories leading Friday’s newspapers.

Warning comes after Rachel Reeves’s record tax-raising budget sent tremors through financial markets

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…

Labour’s first budget in 14 years appears to have avoided the Halloween nightmares that many predicted. Yes, the overall tax burden is at its highest level since 1948, but this budget’s tax and spend distribution is such that it spreads both the pain and the benefit. Most of the pain…

Unless the chancellor’s capital spending increases stimulate private investment, expect more tax rises ahead

Nine out of 10 taxpayers will benefit as a percentage of income from the Budget, according to a Treasury analysis

UK Treasury raises taxes by 40 billion pounds, affecting wage growth and public services. Potential future tax increases and spending concerns highlighted.

Markets conclude higher level of public spending could lead to higher inflation, making cuts in Bank of England rate less likely