Britain’s Labour government to deliver debut Budget this week, settling weeks of uncertainty

UK Finance Minister Rachel Reeves will present the government’s debut budget on Wednesday, addressing concerns over potential tax hikes and spending cuts. She plans to change how the UK measures debt to free up funds for investment, possibly targeting public sector net financial liabilities. Tax changes, including potential increases for higher earners and employers, are expected to help close a £100 billion spending gap over five years. Reeves faces the challenge of balancing the budget without harming business growth. Delayed budget announcement has led to market jitters, but analysts believe the changes will benefit the UK economy in the long run.