Conservative leadership candidate Robert Jenrick has branded Chancellor Rachel Reeves a "compulsive liar" following her £40billion tax hike on Britons in Labour's Budget.

Reeves delivered a fresh blow to employers and small businesses in her announcement on Wednesday, confirming that employer National Insurance contributions will increase to 15 per cent from April 2026, as well as a cut to the 75 per cent discount on business rates, which will change to 40 per cent in April 2025.