OBR leak revealed Chancellor's budget details showing doubled fiscal headroom to £22B but underlying economic challenges

Growth downgraded, welfare bill soaring, living standards rising slower than expected, tax burden at 38% of GDP - highest since WWII records

Stealth tax rise through frozen personal tax thresholds creating millions of new taxpayers and higher rate taxpayers

Political questions about breaking manifesto pledge not to raise income tax

Removed two child benefit cap potentially lifting hundreds of thousands out of poverty

Chancellor claims budget will bring down inflation

Market gamble on backloading of fiscal tightening - gilt yields fell during speech and pound rose against dollar

UK gilts exposed to international crosscurrents with Thanksgiving following budget