She is expected to increase National Insurance on employers possibly on their pension contributions, despite a warning by former Labour Cabinet minister Lord Blunkett against the move, to raise capital gains tax and inheritance tax, freeze the thresholds for paying income tax for another two years, and make changes to stamp duty.

With Labour’s first Budget less than one week away, people throughout the country are preparing for the changes that Rachel Reeves will make to fill the £22bn black hole in public finances.