Business groups hit out after the chancellor signals she will raise the amount employers pay in National Insurance.

Sir Keir Starmer has refused to rule out raising national insurance for employers in the budget, sparking some stark warnings from business figures. Meanwhile, the chancellor's said to be dealing with an even bigger "black hole" than she thought.

Rachel Reeves will announce Labour’s first Budget in 15 years later this month, leading one of the most highly-anticipated fiscal events in over a decade. As the chancellor looks to fill the £22bn “black hole” in public spending she announced in late July,

The chancellor was speaking at the government's International Investment Summit, where deals worth £63bn were hailed.

The Chancellor told ministers on Monday that plans to fill a £22 billion black hole would be enough only to ‘keep public services standing still’.