Can you guarantee that you will not extend the freeze on income tax thresholds, Reeves is asked.

"I'm not going to be able to do that," says Reeves.

As a reminder, the thresholds - the rate at which people start paying higher tax rates - have been held down for years, meaning more people pay higher rates. They are currently frozen until 2028.

Reeves is pushed again on the freeze on income tax thresholds.

Reeves refuses to be drawn on this: "We are at risk of writing a budget live on air," she says.

The chancellor is now being pressed on the possibility of raising VAT, following Starmer's comments on the matter yesterday.

Reeves echoes Starmer's words, assuring that the commitments around VAT in the Labour manifesto "do stand".

As a reminder, Labour's manifesto promised to "not increase taxes on working people, which is why we will not increase National Insurance, the basic, higher, or additional rates of Income Tax, or VAT".

Reeves says that ordinary working people "bore the brunt" of economic mismanagement from the Tories.

When questioned further about the possibility of VAT hikes, Reeves says: "Judge me on my record."

Reeves is now asked about the warning that a third of pubs could close without support from the government.

The chancellor says in last year's Budget, the government said they would "fundamentally reform" the business rates system.

The reform would make sure big multi-nationals "pay their fair share" and "give a break to those businesses in our local communities".

She says the government has been consulting with the hospitality sector and will set out details soon.

Now Reeves is talking about Labour's pledge that every primary school will have a library, external by the end of this Parliament.

"This is something really personal to me" says the chancellor, who explains that when she was at school, her library was turned into a classroom due to lack of space.

There are 1,700 primary schools without a library, she says, calling them "places of inspiration" to study and explore new ideas.

Reeves is asked what will happen if an unemployed young person turns down their work placement.

The chancellor says it has "always been the case that benefits are not an alternative to work".

This scheme is no different, Reeves says, so young people must take a job up if it's available to them.

She reiterates the need for a system "based on contribution and reciprocity".

Chancellor Rachel Reeves is asked what sort of jobs young people will be offered as part of her scheme to offer guaranteed work for youngsters out of work.

Reeves mentions the "devastating" impacts on those who face unemployment, especially at the start of their careers.

Pressed on where people will be offered jobs, Reeves says these jobs could be "in a whole range of sectors" - mentioning retail, culture and government jobs.

But as before, there are no specific firms mentioned - the chancellor said earlier that detail would come later.

Chancellor Rachel Reeves is now speaking to BBC Breakfast, ahead of her speech at Labour's annual conference.

We'll be bringing you the latest lines here, or you can follow along by clicking watch live at the top of this page.

Chancellor Rachel Reeves is due up on BBC Breakfast soon - you'll be able to watch live at the top of the page. Here's what she said in her first BBC interview of the day, on 5 Live:

• Reeves said she's "proud of what we've achieved in these first 15 months" but recognised "there is more to do"
• Pressed on whether she should be proud of relatively sluggish economic growth, Reeves said it was the "fastest growth in the G7"
• The chancellor also cited cuts to interest rates, increases to the the minimum wage, and trade deals as reasons for optimism
• She outlined plans for work placements for young people in long-term unemployment, but admitted no businesses or industries had signed up yet

• On migration, she repeated what Prime Minister Starmer said yesterday, calling Reform UK's policy of scrapping indefinite leave to remain "racist"

Rick Edwards now moves on to migration, and questions whether it is Reform UK who are setting the agenda for Labour's party conference - with a nod to the home secretary's new tougher rules.

Reeves dismisses this idea, emphasising it is Labour who are in government.

On Reform UK's policies, Reeves says "deporting people legally who are legally working in the UK and have been here some period of time...I do think that is racist".

That echoes what Keir Starmer said yesterday on the BBC. Both Starmer and Reeves stressed that they believed the policy was racist, and not Reform voters.

The chancellor claims the next general election will be between a "progressive Labour government" and Reform UK.

After saying she is "proud" of the government's record, Reeves is pressed further on the lack of growth in the UK economy, and a lack of confidence from businesses.

"This is all on you, do you not recognise that?" asks Rick Edwards.

She again says there is "more to do". But she again cites new trade deals, citing the $150bn of investment from US firms two weeks ago, as well as the UK's trade deal with US President Trump.

Reeves accepts it "takes time to turn things around". "I accept that," she says.

She again mentions the five cuts in interest rates and a rise in wages, but says the government's got "a lot more to do".

Reeves is now asked how businesses can plan for the future when the Budget is later than usual this year.

"We said at the general election we'd move to one Budget a year" says Reeves.

The previous government had too many changes, she adds, with Budgets every few months.

This "created uncertainty", adding that having them less frequently avoids "ups and downs" in taxes and policy changes.

Speaking more broadly, she says she is "proud of what we've achieved in these first fifteen months", Reeves says.

She cites "the fastest growing economy in the G7", five cuts to interest rates, and trade deals.

"I do recognise there is more to do," she adds.

Reeves is pressed by Rick Edwards on what sectors have signed up to provide work placements for unemployed young people.

She says the government is making the announcement today, but is unable to draw of specific businesses who have signed up.

"I've got no doubt businesses will get behind this," the chancellor insists.

Reeves begins by talking about the government's plans to support young people into paid employment.

She says people should be contributing, and if after 18 months you haven't been able to find work, or be back in education or a trade, then you should take up an offer of paid employment.

She says that one in eight young people currently aren't in education, training or paid employment, adding: "We can't let that stand."

"There is precedent here, when Labour was last in government we introduced the new deal for young people," she says, adding that it helped thousands of young people.

Chancellor Rachel Reeves is speaking to BBC Radio 5 Live now, ahead of day two of Labour's annual conference.

We'll be bringing you the key lines here, or you can listen live at the top of this page.

Image source, Reuters

While Reeves - who's about to speak on 5 Live - will want to talk about her new youth employment pledge, she will also likely be asked about migration.

The Home Secretary Shabana Mahmood is set to announce a series of conditions migrants will have to meet to qualify for indefinite leave to remain.

Under the new proposals - expected in her speech to Labour's annual party conference later today - migrants will have to learn English to a high standard, have a clean criminal record and volunteer in their community to be granted permanent settlement status.

Currently, migrants can apply for indefinite leave to remain after five years in the UK. The immigration status grants the right to live, study and work in the UK permanently.

Labour plans to double the period it takes to gain the status from five years to 10.

• Read the full piece on the home secretary's expected announcement today

Becky Morton
Political reporter

Image source, PA Media

Young people who have been out of a job or education for 18 months will be offered a guaranteed paid work placement, Chancellor Rachel Reeves will announce at the conference today.

Those who do not to take up the offer could face being stripped of their benefits.

Under the new initiative, every young person who has been on Universal Credit for 18 months without "earning or learning" will be offered a guaranteed paid work placement.

Reeves will promise "nothing less than the abolition of long-term youth unemployment".

This scheme builds on a "youth guarantee", announced last November, which promised every 18 to 21-year-old in England access to an apprenticeship, training, education opportunities or help to find a job.

The numbers hit an 11-year high of 987,000 at the end of last year.

• You can read more about Reeves's plans to crackdown on youth unemployment

Image source, PA Media

Chancellor Rachel Reeves will take the main stage at the Labour Party’s annual conference in Liverpool later today.

She will unveil plans to guarantee that young people out of work or education for 18 months will be offered paid work.

Reeves will be asked about the plans - as well as the government's wider plans on migration and the economy - in a round of BBC interviews this morning.

The first is on 5 Live at 06:50 BST - you'll be able to follow live on this page.