Chancellor Rachel Reeves is preparing to present the first Labour budget in 15 years, with the aim of addressing a significant £40 billion funding gap.

The budget will outline proposed tax increases as part of the government's strategy to stabilize finances. The government has assured that there will be no surprises during the announcement. The reaction of the market will be closely watched, as key investment announcements are expected, which could impact economic sentiment.

In addition, the ongoing debate about capping bus fares highlights the challenges that Labour faces in its early years in power, reflecting broader concerns about public transport funding and affordability.