British Treasury chief Rachel Reeves delivered a budget on Wednesday that will take more tax from workers, people saving for a pension and from investors to give herself more room for meeting her borrowing targets.
But the chaos that has engulfed the Labour government during weeks of mixed messaging and political infighting continued up to the final moment. The entire contents of the budget were accidentally leaked shortly before Reeves delivered the budget statement.
The error sparked anger and mockery in the House of Commons, and a frenzy on trading room floors. A senior economist in London at a top broker said he was in "a state of shock" when reading the headlines, which pushed the pound and U.K. government bond prices higher.
The Office for Budget Responsibility (OBR) cut its forecasts for growth in the British economy over the coming years.
But in a figure closely watched by inve
Continue Reading on Daily Sabah
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.