In a budget statement aiming to move on from the coronavirus pandemic, the chancellor said he would launch reforms to universal credit worth more than £2bn to soften the blow from the biggest-ever overnight cut in benefits earlier this month. Sunak said: 'This budget levels up to a higher wage, higher skill, higher productivity economy. This budget builds a stronger economy for the British people.’

Rachel Reeves, the shadow chancellor, said: 'Never has a chancellor asked the British people to pay so much for so little.'

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