Britain's Chancellor of the Exchequer Rachel Reeves poses with the red budget box outside her office on Downing Street in London, Britain October 30, 2024. REUTERS/Maja Smiejkowska
LONDON (Reuters) - Britain's new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget on Wednesday, saying she had to repair the country's broken public services with heavy spending.
Businesses and the wealthy faced the brunt of the tax hikes and Reeves also paved the way for higher borrowing for investment to speed up an economy hit by the 2007-09 financial crisis, Brexit, COVID and soaring energy prices.
