Rachel Reeves’s autumn budget will take place on 26 November

As later than usual date set, chancellor acknowledges UK economy is ‘not working well enough for working people’

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Rachel Reeves acknowledged the UK economy is “not working well enough for working people” as she announced that her second budget will take place on 26 November, amid mounting speculation over tax increases.

The later than usual date will probably lead to weeks of speculation about how the Treasury will raise additional revenue – but the chancellor hopes to use the time to set out new pro-growth reforms.