The chancellor said full economic and fiscal forecasts from the Office for Budget Responsibility will be presented alongside the budget.
The first budget under the new government will take place on 30 October, Rachel Reeves has announced. The chancellor confirmed the date of the budget - Labour's first since taking office on 4 July - during a lengthy statement in the Commons in which she accused the Conservative government of lying about the amount of public money they had planned to spend.
She said it would be 'a budget to fix the foundations of our economy'. 'It will be a budget built on the principles that this new government was elected on,' she added. The chancellor promised to 'treat taxpayers money with respect by ensuring that every pound is well spent'. Ms Reeves added that she will ensure all public spending 'represents value for money'. And she promised to not raise taxes 'on working people'.
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