Summary
Transport Secretary Heidi Alexander stated that recent Budget leaks have not harmed the economy, despite claims by former Bank of England economist Andy Haldane. Haldane criticized the leaks for causing uncertainty among businesses and consumers. Chancellor Rachel Reeves is expected to present her Budget with possible tax adjustments, focusing on cost-of-living measures.
Key Facts
- Heidi Alexander, Transport Secretary, denied that Budget leaks damaged the economy.
- Former Bank of England economist Andy Haldane said leaks caused uncertainty for businesses and consumers.
- Media reports speculated on possible tax increases before the Budget announcement.
- Chancellor Rachel Reeves is expected to announce tax changes to fill a budget gap.
- The government considered raising income tax rates but backed down after better economic forecasts.
- There is concern over leaked Budget information affecting financial markets and public trust.
- The government plans to freeze rail fares in England and may scrap the two-child benefit cap.
- Calls for an investigation into pre-Budget leaks have been made by the Conservative Party.
