Rachel Reeves is speaking to Sky News after her historic budget that initially triggered a hostile reaction from financial markets. And we'll be examining what Kemi Badenoch's election as Tory leader means for the party and politics. Watch Sunday Morning With Trevor Phillips from 8.30am.
By Alexandra Rogers, political reporterA Treasury minister has conceded the measures in the budget do hit 'working people' - but insisted Labour had not broken their manifesto promises.
The move has left Labour open to the charge of a manifesto breach after the Office for Budget Responsibility , which monitors the government's spending plans and performance, said most of the burden from the increase will be passed on to workers through lower wages, and on to consumers through higher prices.Ms Reeves has also admitted that wage increases might be slightly less than they otherwise would have been as a result of the national insurance hike.
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