Reeves accused of ‘rattling the markets’ after income tax U-turn pushes up borrowing costs – UK politics live

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Reeves accused of ‘rattling the markets’ after income tax U-turn pushes up borrowing costs – UK politics live - short news

A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the chancellor

This is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.

Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates

1. Does it signal less willingness to do politically difficult things

Britain’s long-term borrowing..

source: The Guardian - 14.11.2025

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A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the chancellor

This is from Helen Miller, director of the Institute for Fiscal Studies..

Pound down 0.5% against dollar in early trading after chancellor drops plans for upcoming budget

Borrowing costs for the UK have increased and the pound fallen after the chancellor’s..

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