Rachel Reeves was accused of inventing a “bogus” £40 billion blackhole to justify hammering taxpayers in her first budget. The Chancellor is planning tax hikes to cover a shortfall in the public finances nearly double the amount she first claimed was needed.

Rachel Reeves is aiming to raise £40 billion in tax rises and spending cuts in the Budget, it has emerged. The chancellor hopes that filling Treasury coffers with the huge sum will avoid a return to the austerity of the Tory years.

The chancellor has emphasised the need to fill the apparent £22bn hole in the nation's finances. Sky News takes a look at what levers she could pull to fill the gap.