Analysts describe a ‘smorgasbord’ of potential tax measures designed to boost revenues without an outright income tax increase.

Think tanks and commentators warn against market-sensitive pre-budget disclosures and note rising market uncertainty ahead of the Budget.

Inside No. 10 and the Treasury, infighting and a lack of coherent strategy are highlighted by Labour and opponents, with blame aimed at key aides.

The recent U-turn followed improved Official Budget Responsibility forecasts and ongoing political turbulence surrounding the Prime Minister’s support.

Budget measures were in development before recent turmoil at No. 10; borrowing costs rose briefly on the U-turn news before stabilizing as details emerged.

The Chancellor is preserving fiscal headroom to cushion against headwinds, signaling ongoing tough choices ahead for fiscal policy.

The government is not ruling out income tax rises, but may pursue alternative revenue-raising measures such as lowering income tax thresholds, keeping rates unchanged, tightening salary sacrifice schemes, or introducing new taxes on electric vehicles as part of a broader drive to widen the tax base.

Culture Secretary and allies stress the importance of keeping manifesto promises to preserve fairness and trust in politics.

Markets initially dipped on Budget fears but later steadied, with sterling hovering near flat against the dollar and euro.

There is a £30 billion gap in public finances amid business worries that budget uncertainty is hurting confidence and delaying investment.

Economists and financial professionals are quoted on the implications of the tax U-turn and its impact on revenue and policy credibility.

Economic data show unemployment remaining high and GDP stagnation in Q3, intensifying pressure on the Chancellor to deliver a credible Budget.