Rachel Reeves has pledged that today’s Budget will boost earnings for the UK’s lowest-paid workers.

The Chancellor will set out her economic plans in the Commons at around 12.30pm, as millions of Britons await details on how their finances may be affected. Reeves is expected to raise funds to address a £20 billion shortfall in public finances after 14 years of Tory austerity.

Despite speculation about possible tax rises, she has promised a Budget aimed at easing the cost-of-living pressures on struggling families.

Key Events

The two-child benefit cap to be scrapped 12:21

12:21 KEY EVENT

The two-child benefit cap to be scrapped

The published OBR report has revealed the contreversial two-child benefit cap is being removed.

This will come at an estimated cost of £3 billion by 2029

See Full Page