Budget bonanza: tax highs and growth lows

After months of speculation, predictions and U-turns, Rachel Reeves finally announced her Budget this week. And, symptomatic of the chaos this Budget has wrought, there was one final twist: the entire Budget appeared on the Office for Budget Responsibility's website 45 minutes before the chancellor was set to give her speech. It sent the media and the markets into a spin…the key takeaway: a historic tax rise achieved without officially breaking the government’s manifesto promise. So what are the crucial implications of this Budget? Who are the winners and losers? And what is the political fallout for Labour?Host George Parker is joined by economics editor Sam Fleming, markets columnist Katie Martin and politics columnist Stephen Bush to break down this long-awaited Budget. Follow George on Bluesky or X: @georgewparker.bsky.social, @GeorgeWParker; Stephen @stephenkb.bsky.social‬, @stephenkb; and Katie @katie0martin.ft.comWhat did you think of this episode? Let us know at [email protected]  Want more? Free links: Rachel Reeves’ Budget raises UK taxes to all-time high‘Spend now, pay later’: Rachel Reeves’ Budget delays the fiscal pain  Reeves’ Budget fails her own 3 claimsRachel Reeves’ gambitThe four audiences Reeves’ ‘high-wire’ Budget must satisfyIf you want to find out what the budget means for your personal finance, check out a special episode of the FT's Money Clinic podcast, wherever you get your podcasts.Sign up here for 30 days free of Stephen ‘Inside Politics’ newsletter. You can listen to Katie on Unhedged here, or search ‘Unhedged’ wherever you listen.To sign up for free to the new FT Alphaville newsletter on Substack, go to ftav.substack.comPolitical Fix is presented by George Parker, and produced by Lulu Smyth. The executive producer is Flo Phillips. Original music and mix by Breen Turner. The FT’s acting co-head of audio is Manuela Saragosa. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.