Watch: Rachel Reeves holds red box outside Downing Street ahead of Labour’s Budget announcement
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Watch as Rachel Reeves and other Labour ministers departed Downing Street on Wednesday, 30 October, ahead of the party’s first Budget in 14 years.
The chancellor held the red box outside Number 11 before she, Sir Keir Starmer, and their colleagues filed into the House of Commons.
In her speech later today, she is expected to say the “prize on offer” is “immense”, and she will lay out new funding to cut hospital waiting lists, build more affordable homes and rebuild crumbling schools.
“More pounds in people’s pockets. An NHS that is there when you need it. An economy that is growing, creating wealth and opportunity for all. Because that is the only way to improve living standards,” she will add.
The Treasury has already announced that the minimum wage will increase to £12.21.
It falls short of the £12.60 an hour sum recommended by the Living Wage Foundation, but Ms Reeves described the 6.7 per cent increase as a “significant step” towards creating a “genuine living wage for working people.”
Labour has vowed not to raise taxes on “working people” in the days before the Budget announcement.
Their pre-election manifesto promised not to increase income tax, national insurance, or VAT as part of their commitment to keep taxes low for these “working people.”
However, other rumoured tax rises led critics to question who falls under Labour’s definition of “working.”
The prime minister said the UK’s working people “know exactly who they are.”
“I know some people want to have a debate about this”, he said, “and I know there will always be the exception that proves the rule.”
Asked whether he considered people who get additional income from assets such as shares or property, he replied they “wouldn’t come within my definition.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments