Labour Budget predictions: what could Rachel Reeves announce?

The UK’s first female chancellor, Rachel Reeves, will deliver the Labour government’s first Budget on 30 October. We look at what could be announced

Rachel Reeves enters 10 Downing Street following Labour's landslide election victory
Rachel Reeves will deliver Labour's first Budget on 30 October
(Image credit: Getty Images)

Chancellor Rachel Reeves is set to deliver her first Budget in just a few weeks' time - which the government has warned will contain "difficult decisions" and be "painful".

Prime minister Keir Starmer has said there is no other choice given the "situation that we're in", and that those with the broadest shoulders "should bear the heavier burden", suggesting that we will likely see tax hikes in the Budget.

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Ruth Emery
Contributing editor

Ruth is an award-winning financial journalist with more than 15 years' experience of working on national newspapers, websites and specialist magazines.

She is passionate about helping people feel more confident about their finances. She was previously editor of Times Money Mentor, and prior to that was deputy Money editor at The Sunday Times. 

A multi-award winning journalist, Ruth started her career on a pensions magazine at the FT Group, and has also worked at Money Observer and Money Advice Service. 

Outside of work, she is a mum to two young children, while also serving as a magistrate and an NHS volunteer.