They’re highly paid, gaining power and influence — and about to get a reality check on their own personal balance sheets.

By Muvija M and William Schomberg LONDON (Reuters) -British finance minister Rachel Reeves fought back on Thursday against criticism that she was raising the tax burden to a post-World War Two high to fund extra welfare spending and returning the Labour Party to its high-tax,

The funding will help guarantee paid work placements for 18 to 21-year-olds "not earning or learning", the Chancellor says.

What the Chancellor’s 3p-a-mile plan means for EV drivers – plus Electric Car Grant and Expensive Car Supplement changes explained

The head of Britain's fiscal watchdog said on Thursday he would resign if finance minister Rachel Reeves and lawmakers demand it after his agency published details of the government's budget early, moving markets and sparking anger in Parliament.

Chancellor Rachel Reeves is slashing the amount millions of savers can put into a cash ISA each tax year. From April 2027, under-65s can put no more than £12,000 into a cash ISA each tax year, down from the current £20,000 cap. Reeves hopes the move will encourage savers to invest more of their cash.

Rachel Reeves may have placated the bond market with her budget on Wednesday but higher taxes for Britons on everything from milkshakes to electrical vehicles are unlikely to lift the gloom around the country,