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.

The Chancellor is expected to use her first Mansion House speech in the City of London to "spell out the next phase" of Labour's plan in Government.

It continues the broad approach put in place by previous chancellor Jeremy Hunt when he reversed the disastrous so-called mini-budget of his own short-lived predecessor Kwasi Kwarteng, which left markets in freefall and made Liz Truss the shortest-serving British prime minister in history.

Welcome to our key points summary of Rachel Reeves’s maiden Budget. Find all the major announcements below. You can also follow the reaction in our live blog.

With a £40bn hike, Rachel Reeves delivered the highest level of tax increases ever announced in a Budget, but questions remain as to whether her measures will deliver the economic growth she hopes for

Chancellor of the Exchequer Rachel Reeves will make a series of changes to pensions as she looks to use funds to boost the economy

Rachel Reeves is expected to unveil pension reforms this week which are intended to channel money into infrastructure and private businesses. The Chancellor is also expected to use her first Mansion House speech in the City of London to “spell out the next phase” of Labour’s plan in Government,