Big, bold and risky, but Rachel Reeves has still presented a continuity budget
Picture by Simon Dawson/No 10 Downing Street, CC BY-NC-NDIn the long line of UK government budgets, this first one from Labour in 14 years will be remembered as one of the more significant. Perhaps not like those of Geoffrey Howe in 1981, which controversially cut spending in the middle of a recession, or Hugh Dalton in 1946, which heralded the massive expansion of the welfare state.