LIVE Rachel Reeves Delivers Budget Speech

LIVE Rachel Reeves Delivers Budget Speech

Reeves: If you build here Britain will back you.

£8k of ISA allowance for investment

OBR has upgraded growth this year to 1.5% / £13bn of funding for seven Mayors / Net financial debt this will be £2.6bn / New £2k cap on salary sacrifice into pensions / Investing £200m to accelerate EV charging / changes to gambling taxes to raise £1.1bn / will not increase NI, income tax or VAT /. Duty on online betting to increase to 25% / Government to scrap two-child benefit cap from April

NHS waiting lists down by 230,000

The chancellor tells the Commons: “Today I will take the fair and necessary choices to deliver on our promise of change. I will not return Britain back to austerity, nor will I lose control of public spending with reckless borrowing.”

She pledges the budget will prioritise growth measures after a downgrade to productivity forecasts by the Office of Budget Responsibility at the end of last month, which has increased the government’s fiscal hole.