Chancellor Rachel Reeves is facing mounting calls to resign from frustrated business owners after a series of leaks ahead of this week’s Budget – drawing comparisons with Labour Chancellor Hugh Dalton, who quit in 1947 after briefing a journalist moments before delivering his statement.
The criticism intensified after the Office for Budget Responsibility accidentally published its full economic forecast online hours before Reeves’ speech. The OBR has apologised, but the premature release revealed that GDP growth is expected to reach 1.5%, lower than previously projected, and confirmed plans to freeze income tax thresholds until 2030/31, introduce a new annual tax on properties over £2m from 2028, and raise £26bn in taxes by 2029–30.
Business figures say the string of leaks , deliberate or otherwise , has shattered market confidence.
Riz Malik, director of R3 Wealth in Southend-on-Sea, described the situation as farcical.
“This Budget has had more leaks than the Titanic,” he said. “We elect officials to lead, not test every idea on the public like a focus group. At this rate we’ll be voting on economic policy during Strictly.”
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