Starmer and Reeves ditch plan to increase income tax rates in the Budget
Chancellor explores alternative ways to raise revenue to fill fiscal hole estimated at up to £30bn
Chancellor explores alternative ways to raise revenue to fill fiscal hole estimated at up to £30bn

Prime minister tells Labour MPs he will reduce UK’s national debt without making deep spending cuts

Burden to reach 38% of GDP by end of parliament

Conservatives say chancellor exaggerated fiscal hole to justify tax rises

Chancellor says ‘national interest’ more important than ‘political expediency’

Chancellor under pressure from some Labour MPs to raise levies on business this week

Labour MPs warn chancellor that a possible £1.5mn threshold for the new levy would be too low