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Reaction to the Chancellor's statement.
'Thanks to the difficult decisions we have taken in the last nine years, and the hard work of the British people, I can report today on public finances that continue to improve.'
'We have just witnessed a display by the Chancellor of this government's toxic mix of callous, brutal complacency over austerity and its grotesque incompetence over the handling of Brexit.'
'Against a hugely uncertain political backdrop, the Chancellor has made an admirable attempt to set out a long-term vision for the UK economy, yet remains shackled by Brexit.'
Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.
Data published by HMRC has revealed that inheritance tax (IHT) receipts rose to a record high of £7.5 billion in the 2023/24 tax year.
The government has been accused of confusing small firms before new import rules on plant and food products are introduced, according to the Federation of Small Businesses (FSB).