Come work with us! The Guardian is hiring a Business Reporter to produce breaking news and insightful features across all sectors of the economy. Great gig for a journalist looking to build their experience in business reporting. Full details here: https://t.co/1MbrL9Ince

I think it’s time. Not to delete, but to ditch. I’m on t’other place at @rjpartington.bsky.social

Andy Haldane says the UK can strike a Trump trade deal and rebuild EU relations - among other POV in a wide-ranging interview. "I hope the government is in a position to really pat its head and rub its tummy at the moment,” he tells me. https://t.co/xiEsK1pyW9

The new post-pandemic divide (but also building on pre-existing splits in society): hybrid working. Hybrid working much more likely if staff have a degree, says ONS: https://t.co/EQJEEyy2lw

Breaking: Bank of England cuts interest rates to 4.75% even as it warns that Rachel Reeves's budget will add to inflationary pressures in the economy - keeping the inflation rate above target until 2027. https://t.co/KDlbscM24f

Today’s @guardian front page: Reeves told she will have to raise further £9bn to avoid UK public service cuts - with @jessicaelgot https://t.co/BriR2WoeGs

Financial markets react to the budget, as IFS says extra £9bn of tax rises may be needed to avoid UK public service cuts Is this Truss 2.0? No: but the chancellor will be mindful of the gilt sell-off after making a big deal about economic stability https://t.co/BriR2WoMw0

Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF https://t.co/QkiVmJ6ZUO

@CalJamieson In the same thread... https://t.co/HtdVaq26tc

Three reasons why: - Fiscal targets are met. - They're met by specific tax hikes, rather than implausible public spending squeeze (as per Tories last budget) - Capital spending should boost longer-term growth

Michael Saunders, ex BOE ratesetter, says there ought to be little for markets to worry about: "It is unlikely that financial markets and the MPC will be greatly worried by the upward revision to the deficit profile"

The markets now turning... Gilt yields rising. Leaving slim fiscal headroom being pointed out as the culprit. On the central forecast the current budget rule and debt rule are on course to be met by margins of £9.9bn and £15.7bn... relatively slim.

Some killer lines from the OBR - Reeves's budget policies "crowd out" private investment. Business investment forecast to fall as a share of GDP "as profit margins are squeezed, and the net impact of Budget policies lowers business investment"

Full story- Budget 2024: Reeves reveals £40bn in tax rises as she promises to rebuild public services https://t.co/ndFAAYfP01

So far, so good, for the chancellor in the financial market reaction: 10 year bond yields have fallen since Reeves started speaking.

Rachel Reeves announces £6.7bn for rebuilding over 500 schools. Looks like reinvigorating BSF wasn't a bad shout for a rabbit... https://t.co/4aZKQKTX1s

Reeves confirms the government will target PSNFL for her debt rule.

Reeves says she is raising £25bn from an increase in Employer NICs.

Reeves freezes fuel duty - despite the over £3bn cost.

Reeves confirms the budget will include £40bn of tax increases to rebuild the public finances and public services