UK budget to target cost of living crisis as Reeves battles to keep Labour MPs on side

Chancellor's fiscal statement billed as decisive moment for fate of Starmer government as she tries to fill 20bn spending gap

Rachel Reeves will promise to tackle Britain's cost of living crisis and deliver fiscal stability in Wednesday's budget, which is billed as a decisive moment for the fate of Keir Starmer's beleaguered government.

The chancellor will say she is taking the fair and necessary choices" to shore up the economy as she raises billions of pounds worth of taxes to help offset lower than expected growth forecasts.