This is bbc news. A new chapter in the economic History Of The Uk the promise we will hear shortly from Shadow Chancellor Rachel Reeves, Should Labourfor Shadow Chancellor Rachel Reeves, should labour for the Shadow Chancellor Rachel Reeves, Should Labourfor the next should labour for the next government. Should labourfor the next government. Rachel reeves addressing business and finance leaders in the city of london. We are expecting her speech to start very shortly and we will of course be keeping across the and bring it to you as soon as possible she appears. She is delivering the annual Mais Lecture Following in the footsteps of previous chancellors and Shadow Chancellors and bank governors. Rachel reeves will promise to reform the treasury as part of a possible labour governments Economic Policy. She will say, i remain an optimist about our ability to rise to the challenges we face. The conservatives suggested labour had no plan just more borrowing and more taxes. The speech comes
Announcements from the budget starting with tax. The chancellor has announced that National Insurance will be cut by another 2p. He says the cut which will begin next month is worth £450 a year for each worker. Mr hunt also announced. 0n taxes there will be a new tax on vaping products that will start in october 2026. The chancellor says thatis october 2026. The chancellor says that is to maintain the financial incentive to choose vaping over smoking. The chancellor finished his statement by Attacking Labour for the economy. We statement by Attacking Labour for the economy the economy. We today put this country back the economy. We today put this country back on the economy. We today put this country back on the the economy. We today put this country back on the path the economy. We today put this country back on the path to the economy. We today put this | country back on the path to lower taxes. Allowed to grow the economy versus no plan. A plan to Better Public Services versus no p
Ministers questions. It is always a little different, the pmqs ahead of the budget. He has vacated the chair for the Deputy Speaker. She will be going through some of the notices ahead ofjeremy hunt, the chancellor, delivering his Budget Statement. He will take to his feet shortly and will probably speak for about an hour shortly and will probably speak for Aboutan Hourand shortly and will probably speak for about an hour and then it will be the turn of the leader of the opposition, keir starmer to respond. We will take both of those live and uninterrupted and we will then have reaction from the Chief Secretary to the treasury, laura trott, part of the treasury, laura trott, part of the Treasury Team and her shadow for labour. Here isjeremy hunt. Madam Deputy Speaker, as we mourn the loss of life in israel and gaza, the loss of life in israel and gaza, the Prime Minister reminded us of the Prime Minister reminded us of the need the Fight Extremism and heal divisions. I start today by r
Products to start in october 2026. And. The chancellor says its in order to maintain the financial incentive to choose vaping over smoking. Lets move on to the broader picture for the uk economy. In the office of budget and responsibility has predicted that. Remember, were in a technical recession at the moment. Lets move onto debt. Lots of figures in numbers but its important we take you through the main developments from todays budget. In a moment ill be discussing is in finer detail with my colleague. Ill also bejoined by our Economics Correspondent who is in the newsroom for us. First our Political Correspondent looks back at todays development here in West Minister. I5 at todays development here in West Minister. ,. ,. , minister. Is this an Election Winnin minister. Is this an Election Winning budget, minister. Is this an election | winning budget, chancellor . Minister. Is this an Election Winning budget, chancellor . As jeremy hunt pose for the last photo, dues before the budge
Dog, pom. Pictures here of him out with his dog, poppy, in the early hours near Downing Street. Some nice pictures. The chancellor has promised his plans will stimulate the flagging economy and help family with permanent tax breaks. Labour will argue that any reductions will still leave people worse off because of the freezing of Tax Thresholds. So what could be expected in todays budget . Ben king takes a look. The background to todays budget has been gloomy, with the economy in recession. But it looks like the chancellor will still find room to cut taxes. The conservatives are trailing labour in the polls, and looking Forjeremy Hunt to give them some cheer in places like this, winchester, a seat the Lib Dems Hope to win. So what do people here think about tax cuts . I think it would be a good idea because it gives people more money to spend on what they want to buy. Realistically, people arent going to save that much money from a tax cut, whereas more money in Public Services means B