Britain's Treasury chief Rachel Reeves is expected to announce a new set of substantial tax increases when she presents her second annual budget on Wednesday, testing the confidence of the governing Labour Party and drawing scrutiny from an uneasy bond market.
Such a move would directly contradict her declaration a year ago that "we won't have to do a budget like this ever again," insisting she had restored stability to the public finances on her first attempt and would not be coming back for more tax rises.
It has been a difficult first 18 months in charge of the world's sixth-biggest economy for Reeves.
The former Bank of England (BoE) economist β the first female chancellor of the exchequer β has staked her political identity on being the antidote to the chaos that roiled British politics in recent years.
But weeks of mixed messages from her and Prime Minister Keir Starmer on tax have strained the trust of investors and voters, leaving her credibility β and potentially Starmer's pol
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