Kemi Badenoch has labelled the Budget a ‘total humiliation’ after Rachel Reeves’s big announcement was derailed by an Office for Budget Responsibility leak. ‘There is no growth and no plan,’ the Tory leader told the Chancellor after Labour hiked tax, froze income tax thresholds and scrapped the two-child benefit cap. Reeves used her Budget to announce that:
- A new levy will be imposed on properties worth more than £2 million
- Income tax thresholds will be frozen for another three years from 2028
- The two-child benefit cap will be lifted
- The OBR has updated growth for this year to 1.5 per cent of GDP
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