Two days after Rachel Reeves delivered her first budget, Calum Macdonald and former No.10 special adviser Kirsty Buchanan break down what really happened — from the OBR leak, to the tax rises, to the political strategy behind one of the most controversial fiscal events in years.

Economist Simon French (Panmure Liberum) joins to assess:

• Why the markets didn’t panic

• Whether this budget really “clobbers working people”

• Why business rates may spike for pubs & hospitality

• Whether inflation could now fall faster

• If the tax pain scheduled for 2027–2029 is even credible

We also examine the biggest brewing storm:

A £6 billion black hole in Special Educational Needs (SEND) funding and the government’s unclear plan to fill it.

✨ Including discussion of welfare spending, Labour strategy, the markets, business rates, and parents’ fury over potential education cuts.

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