Reeves budget faces scrutiny but gains support from Bank of England

UK Chancellor of the Exchequer Rachel Reeves is facing challenges with her debut budget, which involves borrowing an additional £142 billion ($184 billion) over the next few years. This fiscal strategy has raised concerns among market participants and has been labeled as inflationary.

However, Bank of England Governor Andrew Bailey has expressed support for Reeves' budgetary approach, which may provide reassurance to investors as the government deals with economic pressures.

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