Reeves accused of ‘rattling the markets’ after reported income tax U-turn pushes up borrowing costs – UK politics live

A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the chancellorStephen Flynn, the SNP leader at Westminster, says the latest news about the budget shows the government is in chaos. In a statement this morning, he said:This isn’t government, this is chaos.
Labour give the impression of a party that has completely lost control - playing a dangerous game with people’s finances so that their prime minister can try to cling to power.
But everyone now knows the clock is ticking until he is dumped from Downing Street. His last act should not be to play fast and loose with the public finances - they’ve already more than paid the price for the constant chaos and crisis that passes for politics at Westminster. If true, this 11th hour screeching u-turn might just spare struggling families from yet another punch in the stomach Budget.The Chancellor should look at our plan for a windfall tax on the big banks’ billions in profits and put £270 back into people’s pockets. Continue reading...