Budget: Feeling blindsided? Chancellor's hefty tax and spending plans are a huge gamble

UK's Reeves bets big on tax-and-spend to reset economy

British finance minister Rachel Reeves' first budget marks a huge gamble that she can quickly rebuild the country with the tens of billions of pounds she has raised in taxes, and withstand the anger of businesses charged with funding it.

Chris Mason: A change-making Budget and a moment of jeopardy

The government's fate will depend on whether it can make things better, says political editor Chris Mason.

Britain cranks up taxes by £40B and gambles on growth

Labour’s Rachel Reeves signaled that the new British government plans record tax rises on the wealthy and on business.

New U.K. Labour government's first budget sees rise in taxes, spending and borrowing

LONDON -- British Treasury chief Rachel Reeves raised taxes Wednesday by around 40 billion pounds (US$52 billion) to plug a hole she claims to have identified in the public finances and fund the U.K.'s cash-starved public services, in a beefy budget that could set the political tone for years to come.

Reeves to face scrutiny over Budget that raises taxes, borrowing and spending

The overall tax burden will reach a record 38.3% of gross domestic product (GDP) in 2027-28. Rachel Reeves will face further questions about her Budget after announcing £40 billion a year in extra taxes to pour money into schools, hospitals, transport and housing. The Chancellor is expected to make a visit related to the Budget on Thursday with Sir Keir Starmer as MPs debate the measures in the Commons and think tanks present further analysis. …

Taxes, spending and borrowing all higher as the new Labour government seeks to ‘rebuild’ the U.K.

LONDON — British Treasury chief Rachel Reeves raised taxes Wednesday by around 40 billion pounds ($52 billion) to plug a hole she claims to have identified in the public finances and fund the U.K.’s cash-starved public services, in a beefy budget that could set the political tone for years to come. Read more...