Rachel Reeves will announce a £3bn funding boost for the armed forces in the Budget today, The telegraph reported.

The increase in military spending is expected to be announced in his speech and will mean that military spending will remain at 2.3 percent of GDP.

There have been calls for defense spending to rise to 2.5% of GDP as the armed forces face many funding challenges, but Prime Minister Sir Keir Starmer said last week that a plan to do so meaning would be announced “in due time”.

The influx of cash announced by Reeves on Wednesday will finance the purchase of weapons to replenish stocks depleted by donations to Ukraine, cover the £400 million bill to give soldiers a 6 per cent pay rise cent backdated to April and will contribute to the growth of the national defense industry.

The £2.9 billion cash injection is expected to be a one-off funding boost while the government conducts a review of the future of defense spending.

After months of speculation, Rachel Reeves will finally release her budget this Wednesday.

The chancellor has signaled there will be multiple tax rises coming, as she seeks to raise up to an extra £40 billion a year.

But what policies could be announced when she comes to Parliament? Below, I takes a look at what she might reveal at the tax event.

• A freeze on income tax thresholds until 2030
• An increase in national insurance paid by employers
• Fuel tax increase
• A reduction in the tax-free lump sum pension amount
• Capital gains tax changes
• Removal of inheritance tax relief
• The donation rules regarding inheritance tax have been modified
• Reduction of sickness benefits
• Reduction in tax-free savings
• Double the construction of social housing
• Changing debt rules to boost investment
• Introduction of the car tax per kilometer
• Changes to the Lifetime ISA
• Alcohol law

Learn more about all of the above here.

Chancellor Rachel Reeves will attempt to move away from the dark rhetoric that characterized the run-up to the Budget by promising to “invest, invest, invest” in her speech today to “put more euros in the pockets of people “.

In the autumn budget that Reeves is due to present on Wednesday, the chancellor is expected to say: “My confidence in Britain is as strong as ever. And the price offered today is immense.

Reeves will “reject austerity” and announce funding for hospitals, homes and schools – without raising taxes on workers – while money will be saved by “cracking down fraud, tax evasion and waste “.