Martin Lewis has issued a response following Rachel Reeves announcing the Labour party’s Budget plans.On Wednesday (October 30), the Chancellor of the Exchequer referred to herself as a “former economist” before she revealed a myriad of changes would be ushered in, including a new tax on vapes as well as changes to employers’ national insurance contributions.

The debut Budget also saw the Finance Minister revealing her plan would include £40 billion worth of tax rises as well as increasing the State Pension in 2025-2026. She has since stated that there will be a £1bn increase in special educational needs funding, breakfast club investment will be tripled and that government spending will rise by 1.5 percent.

Taking to social media, the 45-year-old politician claimed her party were making “tough decisions to fix the foundations” of the UK’s economy so that they could “deliver on the promise of change”. In response to the first Labour Budget, financial journalist Martin, 52, has taken to X, formerly known as Twitter.

During the speech, he wrote: “Chancellor: ‘As a former economist at the Bank of England’ – Bingo”. According to PA Media, Reeves spent six years working for the Bank of England between 2000 and 2006.

The Bank of England confirmed to the group that her time spent working for the bank included a stint with the British Embassy in Washington D.C. She was also thanked for her contributions to a December 2001 speech by former Bank of England chief economist Charlie Bean.

Rachel Reeves unveiled the first Budget presented by the new Labour government on Monday. (Image: GETTY)

Fans of Martin have come out in their droves to debate his “Bingo” comment, with one social media user writing: “Fixing the foundations next?”

Another typed: “Didn’t take long did it?”

“Definitely a job for you sir,” remarked someone else, while a fourth commented: “Not sure what you mean by ‘Bingo’ here.

“Are you saying that it’s a good thing that the chancellor was an economist with the BofE or that she has been caught out for not being entirely honest for suggesting that is the case?”

The financial journalist plans to upload a video breaking down the budget. (Image: ITV)

Martin has continued to post his thoughts and feelings on the Budget to his 3.1 million X followers, with one message reading: “That’s over an hour already – this is a very LONG #budget.”

In another, he revealed he was not the person appointed to head up the new Office for Value for Money (OVfM).

“New head of ‘Office for Value for Money” appointed… No it’s not me (thank heavens),” the ITV favourite commented.

Following the conclusion of the Chancellor’s speech, Lewis announced he would be taking time to “digest” and “fact check” what had been stated during the Budget before selflessly taking fans through the key consumer finance need-to-knows.