Joe Dromey reacts to the budget

This is a strong budget, informed by Labour values.

The Chancellor made the right call in freezing thresholds, rather than increasing income tax. As we’ve argued, this will raise a significant amount, without breaking a key manifesto commitment.

Through asking those with the broadest shoulders to pay a bit more, the Chancellor has been able to increase headroom against the fiscal rules, breaking out of the doom-loop we’ve been stuck in, and providing greater economic security.

But more importantly, it means no return to austerity. The Chancellor has protected public spending and investment. And she has scrapped the two-child limit, fulfilling Labour’s moral mission by lifting hundreds of thousands of children out of poverty.