DEVELOPING: Transport Secretary Denies Budget Leaks Spark Economic Crisis

Transport Secretary Denies Budget Leaks Spark Economic Crisis Transport Secretary Heidi Alexander has denied that leaks ahead of the Budget have damaged the economy. She made the statement in response to criticism that speculation about tax increases has caused "paralysis among businesses and consumers". Alexander's comments come as Chancellor Rachel Reeves prepares to unveil her Budget on Wednesday, with multiple sources suggesting she will increase taxes to fill a multibillion-pound gap in her spending plans. The move would break Labour's election promise not to raise income tax rates. The Chancellor's plans have been subject to intense speculation in recent months, with former Bank of England chief economist Andy Haldane blaming the leaks for the country's flatlining economic growth. Alexander, however, insists that the Chancellor has been clear about her priorities. The Budget is set to be revealed on Wednesday, and businesses and consumers are bracing themselves for the potential impact of tax increases. This is a developing story, and we will bring you updates as more information becomes available.