RACHEL Reeves is set to announce the first Labour Government Budget since 2010 on Wednesday afternoon.

The Chancellor will lay out the UK Government’s tax and spending plans, where she is expected to make “difficult decisions on spending, on welfare and taxation” and change the way national debt is measured to give her more flexibility to borrow.

Scotland’s First Minister John Swinney has pushed Reeves to boost cash which is available for Scotland.

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Here’s all you need to know.

When is the Budget?

The Budget will be delivered immediately after PMQs on Wednesday, meaning it is likely to take place sometime between 12.30 and 1pm.

How can I watch the Budget?

The Budget will be available to view via Parliament TV – which can be found HERE.

Most major broadcasters, including the BBC and Sky News, will also likely broadcast Reeves’s statement live.

What has been said ahead of the Budget?

As always, there has been plenty speculation about what might or might not be included in this year’s Budget.

Speaking to business leaders at a reception on Tuesday, Swinney said: “The Office for Budget Responsibility highlighted recently the potential for public investment to deliver permanent improvements in the economy.

“It is welcome that my calls for the Chancellor to amend her fiscal rules have been heard, with indications last week that there will be scope for greater investment.

“The Chancellor has the chance to choose to deliver a UK Budget that invests in our public services and supports the entrepreneurial spirit displayed in Scotland’s business sector.

“With these new rules in place, the Chancellor must use the fiscal headroom they create to deliver a Budget that immediately and significantly enhances Scotland’s resource and capital funding, enabling us to invest more in our public services and take forward the vital infrastructure projects that support economic growth, net zero and action to take child poverty.”