Reeves to deliver historic first Budget as Labour Chancellor

Rachel Reeves will deliver her first Budget as Chancellor, marking a significant moment for the Labour government. The Budget is expected to include major tax increases, increased borrowing, and substantial spending aimed at economic growth and public services. The government plans to raise employer National Insurance and inheritance tax while changing debt rules to allow for more borrowing. The Budget will also focus on raising the minimum wage and funding for schools and NHS equipment. This Budget is notable as it is the first from a female Chancellor in British history. It aims to set a political agenda contrasting Labour's investment approach with the Conservatives' policies, as the opposition prepares to respond critically.