Politics LIVE: Rachel Reeves giving major speech as fears over tax rises intensify

Rachel Reeves is revealing her "principles" as she prepares to hike taxes and slash spending in the upcoming Budget.

The Chancellor detailed her priorities for this month's fiscal event and address mounting speculation about plans to break her manifesto commitment on income tax.

She insisted her 2024 fixed the economy's foundations and is now coming back for more to boost funding for other priorities, such as the NHS.

Ms Reeves said: "You will all have heard a lot of speculation about the choices I will make. I understand that - these are important choices that will shape our economy for years to come. But it is important that people understand the circumstances we are facing, the principles guiding my choices - and why I believe they will be the right choices for the country."

For all the latest updates, follow our live blog below.