The chancellor says "the world has thrown even more challenges our way" - Tory leader Kemi Badenoch calls the pre-Budget speech a "waffle bomb".

Chancellor Rachel Reeves repeatedly refused to rule out raising taxes as she delivered a rare pre-Budget speech in London today (4 November).

The pound is down, and Rachel Reeves, the UK Chancellor, is dominating the political cycle on Tuesday. What she said: The government successfully "fixed the foundations" of the economy at her last Budget, but that since then "the world has thrown even more challenges our way".

The group urged Reeves to double the level of headroom to £20bn in order to "send a clear message to markets that she is serious about fixing the public finances, which in turn should reduce medium-term borrowing costs and make future fiscal events less fraught".

LONDON, Oct 13 (Reuters) - British finance minister Rachel Reeves should use her budget in November to carry out a long overdue reform of the taxation system which could help her to raise more revenue while limiting the hit to the economy, a think tank ...

If this is above, or takes the seller above, their capital gains tax allowance – £3,000 every year – they will need to report and pay the tax. For higher or additional rate income tax payers, the rate is 24 per cent. For those on the basic rate, it’s 18 per cent.