By the time Rachel Reeves finished her Spring Statement, the ominous sound of a till drawer opening was ringing around Westminster. Just 21 weeks after her £40bn tax-grabbing maiden Budget, the Chancellor laid the groundwork for something even more brutal next time.

Britain should brace for an even more painful budget in October with tax rises and spending cuts all on the cards, the OBR has warned. The financial watchdog downgraded the UK’s all-important growth forecasts today,

A campaign has seen support soar to change the threshold from £12,570 to £20,000 and one expert said changing it to rise with inflation immediately would see significant returns