In the most hyped Budget ever, the most publicised areas tipped for major changes are pensions, capital gains tax (CGT), inheritance tax (IHT), employer’s national insurance contributions (NICs), fuel duty and the addition of VAT on school fees.

Prime Minister Keir Starmer said today that working people ‘know who they are’ after comments previously stating that landlords and those earning shares do not fit into Labour’s definition of ‘working people’.

However, Starmer said: ‘Tax rises will prevent austerity and rebuild public services. We choose to protect working people. We choose to get the NHS back on its feet. We choose to fix the foundations, reject decline and rebuild our country with investment.