Freezing thresholds and manifesto context

Chancellor of the Exchequer Rachel Reeves announced £26 billion of tax increases in a budget that sought to balance the demands of both bond traders and Labour backbenchers. The budget included a more-than-doubled buffer of £22 billion and increased welfare spending by £16 billion, with decisions such as scrapping the cap on child benefits earning praise from left-wing Labour MPs. She speaks on the sidelines with Bloomberg's Lizzy Burden

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