The City AM Live Blog

Good morning from the City AM liveblog team.

Rachel Reeves isn’t going to introduce a Wealth Tax, but she is going to tax the wealthy.

She isn’t going to impose austerity, but she is going to get spending under control. Confused?

Speculation over the contents of next month’s Budget has reached fever pitch, and it’s only going to ramp up from here. This is not idle curiosity; with businesses still adapting to the confidence-sapping and job-smothering fallout from last year’s Budget, there is now a genuine fear that what remains of our economic resilience could be crushed by the government’s need to fill an almighty black hole in the public finances.

The situation is serious; the latest economic data out yesterday confirms that the UK economy is just 0.1 per ce

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