Budget 1) Badenoch accuses Reeves of delivering a Budget for benefits street in furious attack on the Chancellor
“Kemi Badenoch has dismissed Rachel Reeves’s welfare giveaways as “a Budget for Benefits Street”. The Conservative leader hit out at the Chancellor’s decision to abolish the two-child benefit cap and warned that working people would end up paying the price. Ms Reeves scrapped the two-child limit at a cost of £3bn a year following more than a year of pressure from backbench Labour MPs on the Left of the party. Welfare spending is expected to climb £16bn higher by 2030 as a result of the Government’s policy changes and higher-than-expected unemployment. In a highly personal response to Ms Reeves’s speech, Mrs Badenoch told the Commons: “At the last Budget, she said she was proud to be the country’s first ever female Chancellor. “After this Budget, she will go down as the country’s worst ever Chancellor. Labour are hiking taxes to pay for welfare. This is a Budget for Benefits Street, paid for by working people. This Budget increases benefits for 560,000 families by an average of £5,000.Benefits Street was a controversial Channel 4 documentary first aired in 2014, which followed the lives of welfare claimants in Birmingham and Stockton-on-Tees.” – Daily Telegraph
- Badenoch savages Reeves ‘woman to woman’ in speech for the ages – Daily Express
- Kemi Badenoch eviscerates Rachel Reeves – Spectator
- Budget exposes Labour to charges of being ‘high tax, high welfare’ party – FT
- With a smirk that says if you work hard and save prudently I’m coming for you, Reeves launches 43 tax rises in spiteful raids on strivers – to lavish billions on Benefits Street – Daily Mail
- ‘Everyone is depressed’: Rebellious Labour MPs give Starmer and Reeves until May – The i
- Kemi Badenoch slams ‘shameless’ Rachel Reeves – CityAM
Comment
- This wasn’t a Budget, it was a personal tragedy – Tim Stanley, Daily Telegraph
- The only good news? The most chaotic Budget in British history will be Rachel Reeves’ last – Dan Hodges, Daily Mail
- Reeves was like Carry on Chancellor dishing out most chaotic Budget in living memory… Tories are cat who got the cream – The Sun
- I feel sorry for Rachel Reeves… no one’s last day should be that bad – Aaron Newbury, Daily Express
- Rachel Reeves is a true disaster artist – Madeline Grant, Spectator
- Rachel Reeves just unleashed economic torture – Budget will make us all poorer – John Longworth, Daily Express
Today
The guiding principle of modern budgets is simple: seedcorn is delicious
Budget 2) Reeves raises tax to highest ever levels so she can up welfare and scrap two child benefit cap
“Rachel Reeves has used her budget to take taxes to the highest level in history and fund record amounts of benefit spending, hitting workers, savers and businesses. The chancellor announced £30 billion worth of tax rises over the next five years and said that everyone will have to make a “contribution” towards ending the “cycle of austerity”. The tax burden will rise to 38 per cent of national income, an all-time high, after Reeves announced an array of rises, including a three-year freeze on income tax thresholds. The stealth tax means that one in four taxpayers, equivalent to 10.6 million people, will be higher or additional rate taxpayers by 2030. It will raise £12.7 billion for the Treasury and mean that all those in receipt of the full state pension will have to pay income tax for the first time. Reeves was left facing accusations that she had broken her manifesto promise not to raise income tax, national insurance or VAT.” – The Times
- Rachel Reeves’ Budget raises UK tax take to all-time high – FT
- Highest tax ever. The Budget winners and losers: From working people, families, savers and pensioners, how much you’ll pay in Rachel Reeves £30billion tax raid – Daily Mail
- Rachel Reeves targets UK’s wealthiest in £26bn tax-raising budget – Guardian
- Housing shake-up. Huge council tax shake-up revealed by Rachel Reeves in Autumn Budget – The Sun
- How Reeves’s ‘stealth tax’ will cost middle earners £1,900 by 2031 – The i
- End of two-child benefit cap will see some parents hit second £22k limit – The i
- ‘Spend now, pay later’ – Reeves drags a million more Brits into higher rate tax – CityAM
Comment
- A Budget of chaos, contradiction and falsehoods – Janet Daly, Daily Telegraph
- More welfare and higher taxes keep Britain in the slow lane – Fraser Nelson, The Times
- Reeves is just one step away from a financial crisis – Jeremy Warner, Daily Telegraph
- Is the UK economy better off after the budget? – Mehreen Khan, The Times
Today
Budget 3) Labour’s future in Government put in doubt by Reeves’ Budget choices
“If budgets are about choices, as Rachel Reeves likes to say, then hers were there in black and white before she had even started speaking. An extraordinary leak by the Office for Budget Responsibility (OBR) meant the entire contents of her budget were published an hour before she stood at the dispatch box. Reeves has unveiled more than a dozen tax rises on workers, pensioners and savers while prioritising welfare spending, investment in the NHS and protecting low earners. The dangers for Reeves as a result of the budget are twofold. The first is political. Many of the main tax rises she has announced will take effect at exactly the point that Labour is asking voters to give them another term in office. The decision to freeze income tax thresholds for two more years will leave someone earning £50,000 up to £1,500 worse off by the end of the parliament than they would have been otherwise. Someone earning £100,000 a year is likely to be more than £4,000 poorer. Equally her plans to raid salary sacrifice pensions and impose a mansion tax on the most expensive properties are also due to come into effect in 2028 — at exactly the point that Starmer (or his successor) is thinking about when to call the next election.” – The Times
- Years of stagnation await Britain as Labour gives up on growth – Daily Telegraph
- This Budget was bad in every way possible – CapX
- Reeves shatters Labour’s promises – Daily Telegraph
Editorial
- Labour has chosen its side — working people have been betrayed while the skivers are rewarded – The Sun
Comment
- Reeves’ Budget is a ticking timebomb – how long before it blows up both society & the Labour party? – Jack Elsom, The Sun
- Reeves leaves Britons poorer but no wiser about Labour’s strategy – Robert Shrimsley, FT
- Rachel Reeves has condemned us to a doom loop of ever higher taxes, debt and welfare spending. All the experts are saying the same thing about her cruel Budget – and I fear there is worse to come – Alex Brummer, Daily Mail
- Labour’s victory is total. Socialism is back – Allister Heath, Daily Telegraph
Budget 4) Anger at OBR who apologise for leak of Budget early, but warn of what’s within
“The head of the Office for Budget Responsibility is under pressure to resign after the forecaster mistakenly published all of Rachel Reeves’s budget almost an hour before she was due to deliver it. Richard Hughes, who has been chairman of the OBR since 2020, may be forced to stand down after the findings of an internal investigation into what caused the unprecedented leak are published. A government minister told The Times that the leak, which disclosed £30 billion of tax increases, was “a huge f*** up” and that “lots of people are saying [Hughes] should go”. A Treasury source said: “I still can’t believe it happened. It was totally mad. We’re livid. It’s a shame. You build up to this moment, and the whole thing is put out there without any context or narrative.” – The Times
- OBR accidentally publishes full Budget before Reeves speech – City AM
- Hardworking Brits clobbered with raft of tax raids to fund huge benefits splurge in chaotic Budget leaked early – The Sun
- OBR warns Reeves’s budget still leaves public finances in ‘vulnerable’ position – Guardian
- OBR warns Budget leaves UK ‘vulnerable’ as tax burden hits all-time high – CityAM
Comment
- Gallows humour. The Budget was a terribly depressing farce – Rob Hutton, The Critic
Farmers angered by police handling of Budget protest
“Can you tell a farmer just by looking at them? That was the question for the police on a cold bright Wednesday morning in Westminster. As Rachel Reeves prepared to deliver her Budget and the Office for Budget Responsibility prepared to scoop her, the Met was tasked with getting Britain’s beleaguered farmers to stand in the right place. “You are clearly farmers,” one officer said to a group of young men and women wearing wax jackets and boots, before telling them to move on from the roundabout at the top of Whitehall. “I just happened to be here today. I’m not taking part,” replied one young man, adding that he didn’t want to be arrested for wearing a check shirt. He struck at the heart of the dilemma for the Met: all farmers wear green, but in 2025 not everyone in a Barbour is a farmer. The tractors were more of a giveaway. After weeks of negotiation between the Berkshire Farmers Group, which was organising the march, and the Metropolitan Police, over where and how they were allowed to protest, it was only late on Tuesday evening that Scotland Yard informed the farmers that they would not be allowed to drive their tractors down Whitehall.” – Daily Telegraph
- Moment farmer is led away in handcuffs by Met Police in Budget protest chaos – Daily Express
Comment
- One rule for farmers, another for the Left – Jamie Blackett, Daily Telegraph
Home Office documents show more than 53,000 illegal migrants are missing
“More than 53,000 illegal migrants have absconded and are missing, according to internal Home Office figures. A leaked document headed “absconder pool” suggests that, as of October, there are 53,298 migrants who have breached their immigration bail or escaped from detention whose whereabouts are unknown. A further 736 foreign offenders have also absconded and gone missing after being released from prison or from detention, according to the data. Most are believed to be facing deportation. The figures have been obtained from a “whistleblower” by Rupert Lowe MP, who was formerly a member of Nigel Farage’s Reform UK party. The Home Office has refused to confirm whether the figures are accurate, saying it does not comment on speculation. However, the numbers correspond to similar data previously revealed by the chief inspector of borders and immigration in a 2016 report, when there were almost 60,000 absconders.” – Daily Telegraph
News in Brief
- We are being lied to about the cost of living – Joseph Dinnage, CapX
- Why Trump is pandering to Putin China is the real threat – Edward Luttwak, Unherd
- Assisted suicide is not more important than the law – Eliot Wilson, The Critic
- Why puberty blockers are bad medicine – Mary Harrington, Unherd
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