The Chancellor refused to rule out further tax hikes in her next Budget, saying "there are costs" to the Government's policies.

Rachel Reeves has said she was ‘clearly upset’ during Prime Minister’s Questions on Wednesday, but felt it was her job to be on the front bench. The Chancellor spoke out for the first time since breaking down in tears as Conservative leader Kemi Badenoch faced off against Sir Keir Starmer in the House of Commons.

Rachel Reeves appeared to be crying on the Commons frontbench during prime minister’s questions. A tear could be seen rolling down the chancellor’s cheek as she watched Keir Starmer take on Kemi Badenoch. The PM also refused to guarantee that Reeves would keep her job after being asked by the Tory leader.