In the weeks before the Budget, many savers were worried that Chancellor Rachel Reeves would slash the 25pc tax-free lump sum that can be withdrawn from a pension. The Government’s actions stoked these fears.

Financing the Government’s budget plans is pushing up the cost of borrowing for everyone including mortgage holders.

Trump’s commitment to protectionism has destroyed the growth models on which Reeves’s budget was built. He has pledged to impose tariffs of up to 20% on all US imports, and a 60% penalty on Chinese goods, while the EU plans retaliation in a two-step trade plan.

As the Budget continues to cast its horrific spell over the UK economy, it is becoming increasingly clear Chancellor Rachel Reeves did not put enough thought and effort into it. If she insists she did her due diligence,

Chancellor Rachel Reeves said she was ‘fixing the foundations of our economy’ but taxes will rise to their highest levels since the Second World War.