Rachel Reeves takes journalists' questions after delivering a speech in the media briefing room of 9 Downing Street.

Sitting in her office in 11 Downing Street with HuffPost UK last April, Rachel Reeves could not have been clearer.

Asked if she would stick to Labour’s election pledge not to put up income tax, VAT or National Insurance, she said: “We made those manifesto commitments for a reason and we will stick with those manifesto commitments.”

Shortly after 8 o’clock this morning, the chancellor all-but confirmed that those promises will be torched as she desperately tries to fill a £30 billion black hole in the government’s coffers when she delivers her next Budget on November 26.

Reeves did not say that she is definitely going to blow up what remains of Labour’s political credibility, but it was very clear that the great betrayal of voters’ trust is in the post.

In a highly-unusual pre-Budget speech from Downing Street, she told the country that “each of us must do our bit”.

“As I take my decisions on both tax and........

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