The chancellor will deliver the budget at around 12.30pm GMT, just after PMQs
By convention, the leader of the opposition always replies to budget statements. With other big financial statements from the chancellor, it’s the shadow chancellor who replies. Today will be Rishi Sunak’s final PMQs, but his last Commons speech as Tory leader will be his response to Reeves.
Speaking ahead of the budget, Sunak said putting up employers’ national insurance would be a “complete betrayal”. As the Mail reports, he said:
Rachel Reeves promised that her plans were fully funded, and she promised that she wouldn’t change the debt target because that would be “fiddling the figures”.
We already know that those promises are totally worthless because she is going to change her fiscal rules so she can go on a borrowing spree.
[The chancellor’s] decision will end fears that defence will bear the brunt of the “difficult decisions” she says are needed to fix the public finances. It will mean the proportion of national wealth spent on the military will decline slightly but remain roughly stable at 2.3 per cent of GDP.
Part of the extra cash is expected to be used to cover the £400 million a year cost of giving soldiers a six per cent pay rise, backdated to April.
Continue reading… The Guardian Read More The chancellor will deliver the budget at around 12.30pm GMT, just after PMQsFive key charts that underpin the budgetTax changes to look out forBy convention, the leader of the opposition always replies to budget statements. With other big financial statements from the chancellor, it’s the shadow chancellor who replies. Today will be Rishi Sunak’s final PMQs, but his last Commons speech as Tory leader will be his response to Reeves.Speaking ahead of the budget, Sunak said putting up employers’ national insurance would be a “complete betrayal”. As the Mail reports, he said:Rachel Reeves promised that her plans were fully funded, and she promised that she wouldn’t change the debt target because that would be “fiddling the figures”.We already know that those promises are totally worthless because she is going to change her fiscal rules so she can go on a borrowing spree.[The chancellor’s] decision will end fears that defence will bear the brunt of the “difficult decisions” she says are needed to fix the public finances. It will mean the proportion of national wealth spent on the military will decline slightly but remain roughly stable at 2.3 per cent of GDP.Part of the extra cash is expected to be used to cover the £400 million a year cost of giving soldiers a six per cent pay rise, backdated to April. Continue reading…
