Overview
- Reports say the prime minister hosted an informal Downing Street reception for senior executives on Wednesday night ahead of the Budget.
- Invitees were understood to include leaders from NatWest, Sage, Marks & Spencer, Taylor Wimpey and Octopus Energy.
- Chancellor Rachel Reeves is expected to deliver a 26 November Budget featuring tax rises intended to raise at least £30bn to address a fiscal gap.
- Government sources have floated options such as income tax, national insurance, a bank levy, a mansion tax and an exit tax, with Reeves declining to rule out moves that could breach manifesto pledges.
- Business chiefs across retail, hospitality, telecoms and housebuilding say leaks and uncertainty are depressing confidence, delaying investment and risking renewed inflation pressures.