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Rachel Reeves’ Budget gamble backfires as bookies slash odds on her exit to 1/2

But punters at the bookies may now be looking to cash in, with odds on her surviving the next 12 months looking poor.

Speaking to the Daily Express, Louie French MP slammed the budget saying it “puts the workshy before working people” and said Ms Reeves had “broken her promises, destroyed jobs, scared away investors, and squeezed hardworking families.”

He added: “Nobody can trust a word she says as the Labour backbenchers are in charge now. Her days are numbered.”

The budget saw a freeze on income tax thresholds, dragging hundreds of thousands of Britons into higher rates of income tax and even charging pensions.

At the same time it increased fuel duty, took £4.7billion in a raid on pensions and handed out billions to welfare claimants.

A Labour Party spokesperson said: “The Conservatives had zero credibility on the economy and Britain is still paying the price for their disastrous time in office. While the Conservatives play pathetic political games, the whole Labour government is focussed on what matters to ordinary people.”

They added: “The Chancellor’s Budget saw a big boost for family finances. This included money off energy bills, an increase to pensions, a pay rise for the lowest earners, and the freezing of rail fares and prescription charges – all putting money back in people’s pockets.”

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