ANDREW NEIL: Labour’s Budget looks worse by the day as the small print reveals fresh horrors on every page [Video]

18:01 EDT 01 Nov 2024, updated 03:58 EDT 02 Nov 2024

There’s an old Westminster rule of thumb that Budgets badly received on the day are usually winning better reviews by the weekend.

Rachel Reeves can take no comfort from this convention because, in her case, the opposite is happening.

The Chancellor’s first Budget was immediately greeted with a cacophony of criticism which shows no signs of abating. If anything, the attacks are mounting as people trawl through the small print and find fresh horrors on every page.

The broad contours of its failures are already well-established. It does nothing for economic growth or business investment, even though Keir Starmer pledged that boosting both would be the central mission of his Government.

It increases taxes by a record £41 billion a year, despite repeated Labour assurances that no major tax rises were necessary as its spending plans were fully costed and fully funded.