U.K. Finance Minister Rachel Reeves is set to deliver the Labour government's first budget in nearly 15 years, addressing a £100 billion spending gap amid rising government borrowing costs and declining business confidence. The budget will propose changes to debt rules to free up investment funds, while tax increases for higher earners and potential adjustments to inheritance and capital gains taxes are under consideration. Analysts warn that balancing fiscal responsibility with growth initiatives will be a challenging task for Reeves.
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