Hard-up Brits are warned to brace for ‘the biggest heist in modern political history’: Rachel Reeves to unveil £35BN tax grab as Labour’s first budget in a generation targets NI, fuel duty, school fees and even bus fares

Rachel Reeves will unveil a £35 billion tax increase in what critics call ‘the biggest heist in modern political history’ as she sets Britain on a path of high tax, high spending, and high borrowing to kickstart growth. Despite backlash from the City and business over tax hikes, including a £20 billion hit to National Insurance, Reeves plans to borrow up to £50 billion for infrastructure projects and green energy, while blaming the previous government for leaving a £22 billion ‘black hole’ in public finances.

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