Labour funded their “Benefits Street Budget” with a huge tax raid on working people, breaking a promise made 52 times during the election campaign.

She has become the biggest tax-raising Chancellor in British history, hammering working families with nearly £70 billion in tax rises since Labour took power last year.

Responding, Tory leader Kemi Badenoch branded Labour the “welfare party” in a blistering attack.

Ms Badenoch said: “This is Labour’s Britain. People who work hard and save hard to buy their homes get taxed more, while those who don’t work, who in some cases refuse to work, get their accommodation paid for by taxpayers.”

The colossal spending spree came just 12 months after Ms Reeves promised she would not be “coming back with more borrowing or more taxes”, after her first Budget raided working people’s wallets for £40 billion.

This time she unleashed a tsunami of new taxes, raiding everything from milkshakes to mansions, before refusing to rule out further hikes in the years ahead.

Here is the full list of how your money is being targeted:

Income tax threshold freeze

This stealth raid will drag one million MORE pensioners into paying tax for the first time, including many who barely scrape by on the state pension. More than 10 million taxpayers will be forced into the higher rate as wages rise but thresholds stay frozen until 2028.

National Insurance threshold freeze

More money ripped from workers’ pay packets as wage rises drag them into higher NI bands. The freeze means workers effectively pay more tax each year without the Chancellor having to announce a rate rise.

Employer National Insurance threshold freeze

Holdover from her October Budget forcing bosses to pay more to hire staff – a move business leaders warn will cost thousands of jobs and push up prices in shops as firms pass on costs to customers.

Student loan threshold freeze

Graduates will be forced to start repaying their student loans at lower salaries, with the threshold frozen at £25,000 instead of rising with inflation. This means more of your payslip disappears before you’ve even cleared your overdraft. Interest rates have also been frozen, instead of ‘tracking’ with inflation, meaning young workers will be caught short.

Salary sacrifice pension raid

Workers who sacrifice salary to boost their pension pots face new restrictions, limiting how much they can shelter from tax. The move will hit Middle England hardest, those trying to save responsibly for retirement.

Dividend tax increases

Anyone with shares or investments will be clobbered with higher tax bills on dividends, punishing savers and pensioners who rely on investment income.

Savings income tax hikes

The tax-free savings allowance for basic-rate taxpayers has been cut, while higher-rate taxpayers see theirs redocued. Pensioners relying on savings interest are being hammered.

Property income tax raid

Landlords face even higher tax bills on rental income as relief on mortgage interest remains restricted. The move has already forced thousands of landlords to sell up, pushing up rents for tenants.

‘Mansion tax’ on high-value homes

Homes worth over £2million will be hit with a new stamp duty surcharge, targeting wealthy homeowners in London and the South East. Critics warn it will freeze the housing market at the top end.

Corporation tax changes

Changes to how corporation tax is calculated will see businesses paying more, as they will no longer be able to ‘write off’ specific investments into the UK.

Cash ISA raid

The tax-free allowance for ISAs is being frozen, meaning inflation erodes the real value of what savers can shelter from the taxman each year. Yet another stealth attack on prudent savers.

HMRC enforcement crackdown

Aggressive new powers for tax inspectors to chase down unpaid tax, with thousands more audits targeting small businesses and self-employed workers.

Capital gains tax relief cuts for employee ownership trusts

Workers who receive shares through employee ownership schemes will be hit with higher tax bills when they sell, raising £900million for the Treasury. The change kicks in from April 2026.

Remote gaming and betting duties

Online gambling firms will be forced to pay more tax, raising £1.1billion. The cost is expected to be passed on to punters through lower odds and higher charges on betting accounts.

Private hire VAT rise (the ‘Taxi tax’)

VAT will be slapped on private hire vehicles including Uber and minicabs, raising £650million but pushing up the cost of your journey home. Expect fares to rise by up to 20 per cent in some areas.

Customs reform on cheap imports

New customs charges on cheap goods imported from China and other countries, raising £535million. Your bargain parcels from online retailers could soon cost more as import duties bite.

Air passenger duty on private jets

Private jet users will be hit with higher taxes on flights, in a move designed to look like Labour is targeting the rich. But critics say it raises relatively little while damaging Britain’s business aviation sector.

Milkshake tax

The sugar tax is being extended and increased, adding pennies to milkshakes, energy drinks and fizzy pop. Your weekly shop just got more expensive, again.

Homeworking tax relief scrapped

Tax breaks for people forced to work from home have been axed, meaning you can no longer claim back costs for heating, lighting and broadband. Another hit for workers still adjusting to post-pandemic life.

Inheritance tax thresholds frozen again

The inheritance tax threshold remains frozen at £325,000 until 2030, dragging thousands more grieving families into paying death duties. With house prices rising, even modest family homes now trigger the tax.

Pay-per-mile road charging

This controversial scheme will be brought in for electric vehicles, with a charge of 3p per mile. Motoring groups warn it could cost drivers hundreds extra a year.

Beer duty changes

Complex changes to alcohol duty mean some beers will cost more while others see small cuts. But overall, your pint down the pub is likely to be pricier as the industry struggles with rising costs.