The chancellor will deliver the budget at around 12.30pm GMT, just after PMQsFive key charts that underpin the budgetTax changes to look out forIn his First Edition newsletter, Archie Bland compares Labour’s pre- and post-election promises with what we are expecting to get from the budget today. He quotes Richard Partington, the Guardian’s economics correspondent, as saying that, although it will be a tax-raising budget, it will also be “a budget that protects large swathes of what Labour has loosely defined as working people”.Good morning. Rachel Reeves, the chancellor, will today seek to reset the trajectory of public spending and taxation for the rest of this parliament – perhaps for a decade, based on Labour’s pre-election rhetoric – with what is expected to be the biggest tax-raising budget in history, at least in cash terms. Larry Elliott and Pippa Crerar preview it here, in our overnight story. Continue reading...