The Chancellor delivered the largest tax-raising Budget in history, clobbering businesses, motorists, farmers and pension savers with a £40 million raid.

The Chancellor has insisted that she has more in common with Margaret Thatcher than Liz Truss despite financial market turmoil.

The verdict is in. The Gilt market has found the Chancellor Rachel Reeves guilty of reckless endangerment of the country’s finances. A large electoral majority led her to think the world would happily finance what she described in her Mais Lecture as the “smart and strategic state”.

The chancellor is caught in a credibility trap, where abiding by one promise made in the name of credibility undermines another. The government’s credibility relies on incredible promises that cannot be met.

UK chancellor Rachel Reeves has shrugged off calls for her resignation, insisting to MPs that her economic plans can deliver an “immense” prize and defending her visit to China last week.

Chancellor Rachel Reeves’ visit to China and Keir Starmer’s insistence on staying outside the EU single market leaves the UK more vulnerable than at any time since the Second World War

Rachel Reeves has been accused of lying to voters over a major policy put forward by Labour at the General Election. The party is ending the VAT exemption on private school fees in order to raise money for state education. But it has now been reported that billions of pounds raised from the tax will not be ring-fenced to improve state schools.

Kemi Badenoch attempted to put Labour on the back foot on the economy - only to have her party's dire 14-year record thrown back at her. Here The Mirror looks at some highlights

Reeves’s worst week in office so far was marked by the UK struggling to keep the confidence of financial markets following a global bond sell-off. The investor revolt pushed up government borrowing costs amid concerns her current economic plan won’t deliver the growth to bring national debt under control, and will drive up already sticky inflation.

Rachel Reeves shrugged off Tory calls for her resignation as she faced MPs after a turbulent week, which saw volatility in the pound and the cost of Government borrowing soar

The majority of Labour figures rallied around Reeves on Tuesday as she defended her plans against a backdrop of economic turbulence

As ye sow, so shall ye reap. One reasonably reliable rule of economics is that markets will eventually always find you out. It’s taken just six short months for this to happen to Labour, with its fairytale promise to end austerity in public services without having to raise taxes on working people.