A mansion tax, gambling tax, milkshake tax and scrapping the two-child benefit cap – today we finally get all the details of the most trailed budget in political history.
So, who is the 2025 Rachel Reeves budget for – and why?
Sam and Anne assess how MPs and the markets will feel against voters and businesses.
Politically, the giveaways look like they’re worth every penny – but, ultimately, it’s a tax raising budget that will hit everyone somehow.
There will be a second episode later today – a debrief on what’s happened in the budget at around 6.30pm.