As Rachel Reeves prepares to unveil her measures, we look at how five of her predecessors broke the mouldBusiness live – latest updatesAll budgets matter, but some matter more than most. In the 100 years since Sir Winston Churchill used his debut as chancellor in 1925 to put Britain back on the Gold Standard, the first budget of a parliament has often been one that lives in the memory.It’s not a cast-iron rule. Sir Geoffrey Howe’s most controversial budget was in 1981 – midterm in Margaret Thatcher’s first administration – when he raised taxes even though the economy was deep in recession. That decision prompted 364 economists to write to the Times in protest – and still divides the profession today. Continue reading...