The dark secret at the heart of Rachel Reeves’ Budget is buried at the bottom of page 41 of the 205-page Office for Budget Responsibility’s (OBR) assessment. Labour’s policies, the fiscal watchdog deduces, are “shifting real resources out of private households’ incomes in order to devote more resources to public service provision”.

UK farmers are facing a disaster and could end up paying thousands of pounds more in car tax after the Government quietly closed a lifeline loophole. In a second tax raid vehicles such as the Ford Ranger and Nissan Navara will be classed as cars rather than vans from next April meaning annual bills will skyrocket.

The businessman said the decision to tighten inheritance tax relief on business property is an ‘ignorant swipe at aspiration’

Rachel Reeves announced £23 billion of additional current spending for 2024-25 and a further large increase in day-to-day spending plans in the following years which the authors say will have a "significant impact on the Welsh Government budget".

Reeves announced a £22.6 billion increase in the day-to-day health budget, and a £31 billion increase in the capital budget, which she said is the largest increase in spending – outside the pandemic – since 2010. By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.

Cabinet minister Yvette Cooper slapped down Sir James Dyson ’s condemnation of Labour’s first Budget as “spiteful” and being the “death of entrepreneurship”. The Home Secretary insisted that the new Government was seeking to support economic growth in Britain and “opportunities for everyone in the future”.

The UK's wealthiest resident, James Dyson, has called Labour's budget "spiteful". Meanwhile, this week's Money Problem relates to a dodgy haircut. Read these and the rest of today's personal finance and consumer news below.

The hoover entrepreneur, who is one of Britain's leading businessmen, made the accusations in The Times after Labour announced last week that it was raising taxes on multimillion-pound estates.