Will Rachel Reeves hike taxes even higher?

Rachel Reeves has spent the morning out on the media round trying to sell her first Budget to the public. The Chancellor woke to a critical reception from the media – with headlines including ‘Halloween Horror Show’, ‘Nightmare on Downing Street’ and ‘Return of tax and spend’. Meanwhile, she is facing a backlash from the farming community, citing betrayal over the news that inheritance tax relief for farms will be limited to £1 million.

When pressed, Reeves would not rule out further tax rises later down the line

Speaking to the BBC’s Nick Robinson, Reeves was put on the defensive as she was asked to explain why she claimed ‘every Labour policy will be fully-funded and fully costed no ifs, no buts’ only to then jack up taxes to the tune of £40 billion. The Chancellor was also asked how she squared her previous claim that ‘economic growth comes from the success of business’ with her decision to put a ‘£25 billion tax on British business’ through employer national insurance.