UK Chancellor Rachel Reeves announced £26 billion of tax increases, in a budget that sought to balance the demands of both bond traders and restive Labour backbenchers. However the Office for Budget Responsibility said the budget would have "no significant impact on output by 2030", and the UK tax burden is expected to hit 38% of GDP, the highest since records began just after the second world war. David Miles is the head of economic analysis at the OBR, and a professor at Imperial College London. he joined Caroline Hepker on Bloomberg radio to discuss the mistake that lead to the early release of the budgets major measures by his organisation as well as their assessment of the Chancellor Rachel Reeves’ budget.
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