Labour on Budget U-turns: 'Osborne needs a plan B'

The government should "rethink things at the heart of its Budget including a tax cut for millionaires", shadow treasury secretary Rachel Reeves has said.

Her comments came after it emerged that plans to limit tax relief on charitable giving above £50,000, or 25% of income, had been dropped.

She also called on George Osborne to come up with a "Plan B" for the economy, with a focus on jobs and growth.