Britain's newly appointed finance minister, Rachel Reeves, is expected to announce substantial tax increases, potentially the largest in the past thirty years, in an effort to address the country's struggling public services.

These tax hikes, scheduled to be announced on Wednesday, reflect the government's urgent need to stimulate the economy. Alongside the tax increases, Reeves will also present plans for borrowing billions of pounds, which will be used to support a comprehensive economic overhaul.

These proposed measures indicate a significant shift in fiscal policy as the government aims to tackle ongoing challenges and improve funding for the public sector.