The chancellor cannot rule out more tax rises in the next five years, despite raising the burden to its highest level since comparable records began. Speaking to Sky News following Labour's first fiscal event since 2010, Rachel Reeves said it would be "irresponsible" to promise there will not be further tax rises. However, she suggested that the scale of today's tax hike - £40bn - was a "once in a parliament" event.
Follow latest: Biggest tax-raising budget since 1993 Speaking to Sky News political editor Beth Rigby , Ms Reeves said: "I'm not going to make a commitment to never change taxes again. "That would be irresponsible. "But this is a once-in-a-parliament budget to wipe the slate clean after the mess that the Conservatives have left us.
" More on Budget 2024 Rachel Reeves promised to be the iron chancellor but Labour haven't delivered on their manifesto Budget contained 'broken promise after broken promise', Conservative leader Rishi Sunak claims in response to chancellor's statement Chancellor Rachel Reeves promised short-term pain for long-term gain - and we look set for a bumpy ride Related Topics: Budget 2024 Rachel Reeves The chancellor was asked if she accepted that by raising taxes in such a drastic fashion, she had broken Labour's manifesto - the document in which a government lays out its policy position before an election. "I accept that this is a big and a substantial budget," the chancellor answered. Please use Chrome browser for a more accessible video pla.