Reeves' Bold Budget: Britain's Economic Rebalance

Britain's new finance minister, Rachel Reeves, introduced substantial tax increases targeting businesses and the wealthy in an effort to restore public services. Despite cautious investor reactions, the budget aims to tackle economic challenges while paving the way for future investment and growth, albeit with concerns raised about its impact on businesses.

In a landmark budget announcement, Britain's finance minister Rachel Reeves unveiled the country's largest tax hikes in three decades, targeting the wealthy and businesses to repair public services.

Describing the dire state of education, health, and infrastructure, Reeves attributed the need for increased levies to a financial 'black hole' left by her predecessors.

While some investors reacted to potential economic strain, the budget outlines extensive borrowing for long-term growth, with government bonds reflecting cautious market stances.

(With inputs from agencies.)