Name: UK chancellor says ordinary people will pay 'a little bit more' as she defends Budget | BBC News
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Millions of people will now pay more tax by 2030 after the Chancellor unveiled her budget, raising taxes by 26 billion pounds to an all time high.

Over three quarters of a million people will now pay income tax for the first time.

And more than 900,000 people will be dragged into the higher rate of tax after Rachel Reeves decided to freeze income tax thresholds until 2031.

The two child benefit cap will be scrapped from April next year to help lift hundreds of thousands of children out of poverty.

Doing so will cost the government 3 billion pounds a year by 2030.

There's a new mileage based charge on electric and hybrid cars.

From April 2028, a so called mansion tax will be introduced for properties valued over £2 million in England that will be paid on top of council tax.

A lot of the money being raised will be used to create a financial buff wriggle room for the Chancellor.

She has now doubled that to almost 22 billion pounds and we'll be hoping it means she won't have to come back for more money at the next budget.

Well, the Conservative leader Kemi Badenoch said the budget was littered with broken promises and called it a total humiliation for the Chancellor.

Our first report tonight is from our political editor, Chris Mason.

Step forward with the timeless choreography of Budget Day.

The traditional photo outside number 11 Downing street and before the Chancellor's speech, the key question what is in the box?

The entire thing was published in advance when the forecaster and watchdog, the Office for Budget Responsibility, managed to put their report on it on the Internet by accident, hours early.

I was on the telly at the time and couldn't believe it.

Even as I'm reading that out, the sheer absurdity of reading out something that Chancellor has not yet announced in the House of Commons is mind blowing.

Yet another shambles in a shambolic pre budget countdown, said critics.

This is deeply disappointing and a serious error on their part.

With that dealt with, we heard the Chancellor's overarching argument and aims to cut NHS waiting lists, to cut the cost of living and to cut debt and borrowing.

Cutting debt relative to the size of the economy in the hope less has to be paid in debt, interest.

Brick by brick, we've been building our economy, building roads, building homes, getting spades in the ground and cranes in the sky.

the thresholds when people start paying it or Pay higher rates are being frozen for longer, which means over time, more people will pay more income tax.

I know that maintaining these thresholds is a decision that will affect working people.

I said that last year and I won't pretend otherwise.

Now, Madam Deputy Speaker, I am asking everyone to make a contribution.

The Scottish Government will have to decide what it does in response to this.

In England, if you've got a very expensive house, you'll soon be paying more.

From 2028, I am introducing the High Value Council tax surcharge in England, an annual 2,500 pounds charge for properties worth more than 2 million pounds, rising to 7,500 pounds for properties worth more than 5 million pounds.

And wherever you are, there'll be a limit on the tax benefit you'll get when saving for your pension.

I am introducing a 2,000 pound cap on salary sacrifice into a pension with contributions above that taxed in the same way as other employee pension contributions.

And as more folk drive electric cars and so don't pay fuel duty, the Chancellor's found a way of making sure something is paid.

Because all cars contribute to the wear and tear on our roads, I will ensure that drivers are taxed according to how much they drive and not just by the type of car they own, by introducing the electric vehicle excise duty on electric cars.

Outside, a reminder of how targeted tax rises can cause a government grief.

Plenty of farmers are still angry at last year's announcement to charge them inheritance tax.

Back in the Commons, a crowd pleaser for Labour MPs, even if polls suggest most people disagree with it.

I can announce today, fully costed and fully funded the removal of the two child limit in full from April.

The Chancellor removing the two child cap on universal or child tax credit payments.

We are lifting 450,000 children out of poverty with the end of the two child limits.

And then the closing argument from the Chancellor.

Those are labor choices promised and delivered by this budget.

Promised and delivered by this Labour government.

And Madame Deputy Speaker, I commend this statement to the House.

But does the jubilation you can see here on Labour's benches last?

Universal credit claimants, Unemployment debt, interest up, inflation up.

And what about the things that you want to go up?

Growth down, Investment down, Business confidence down.

Under this budget, the tax burden will hit an all time high.

Madam Deputy speaker, there is an alternative to all these Conservative and Labour taxes and the shocking reality is the government knows it and that's a new trade deal with Europe.

The Scottish National Party said the budget was tone deaf to the challenges people face, particularly in Scotland.

Clyde Cymru said the budget did not address what it claims is the injustice in the way Wales is funded.

And you'll hear the reaction of the Green Party after Reform uk.

To answer your question, how we would have approached this project is completely the other side which is to look at the spending side of the balance.

What we've had today is a Chancellor who has effectively squeezed everybody by freezing the income tax thresholds and she hasn't taken that decision to tax wealth fairly.

Government ministers are now heading out to sell their plans to try to persuade you they're a good idea.