The Tory leader, Kemi Badenoch, accused Rachel Reeves of lying to the public so that she could fund increased welfare spending with tax rises in last week’s Budget . Reeves faced calls from the Conservatives, the SNP and Reform UK for her resignation.

In a speech on 4 November, the chancellor had raised expectations of tax rises by warning that the UK’s productivity was weaker “than previously thought”, and that this would have consequences for the public finances. But it emerged last Friday that the Office for Budget Responsibility had told the Treasury on 31 October that the downgrade in productivity would be offset by larger tax revenues from higher wages, meaning that Reeves was actually on course to meet her fiscal targets with £4.2 billion to spare.

Downing Street rallied to Reev

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