A new Government, a new Chancellor and a new approach to the UK’s fiscal policies.

Rachel Reeves entered her first Budget with a strong message that her measures would lead to “an economy that is growing, creating wealth and opportunity for all”.

To achieve this, she made it clear that the “only way to drive economic growth is to invest, invest, invest”.

Echoing the last Labour Government’s pledge on “Education, Education, Education” more than 14 years ago, the Chancellor was quick to recognise that there was difficult work ahead with slow economic growth and a £22 billion hole in the public purse.

Recognising her position as the UK’s first female Chancellor of the Exchequer, she pulled no punches about the inheritance that the Government had found and the impact that it would have on her plans as she set out to raise taxes by £40 billion.

She launched into a speech containing a series of policies that would not seek shortcuts but would instead focus on generating economic stability in the long term.