Macron visits China, Putin in India, South Korea martial law anniversary

The chancellor’s statement will be remembered for the many taxes it raised, rather than the big one – income tax – it did not Rachel Reeves’s chancellorship was already balanced on a knife-edge, even before the 2025 budget. After she delivered her second budget statement, it still is. Even more than usual, Wednesday’s speech was full of significant fiscal changes, altered spending commitments and adjusted economic forecasts, most of them accidentally (and, for journalists, conveniently) released a short while in advance by the obviously misnamed Office for Budget Responsibility. Politically, however, almost nothing has changed at all. Reeves arrived…

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