Rachel Reeves has told business leaders that she had not heard “many alternatives” to tax rises as she faces criticism for decisions made in the autumn budget. Speaking at the Confederation of British Industry’s (CBI) annual conference,

Chancellor Rachel Reeves said she was ‘not immune’ to the difficulties facing businesses but there was no alternative to her Budget tax raid.

Rachel Reeves was accused of milking businesses like cows with her Budget minutes after defending her policies to the CBI.