U.K. Finance Minister's Budget Update

This is a Britain news story, published by CNBC, that relates primarily to Rachel Reeves news.

Britain news

For more Britain news, you can click here:

more Britain news

Rachel Reeves news

For more Rachel Reeves news, you can click here:

more Rachel Reeves news

News about United kingdom business & economics

For more United kingdom business & economics news, you can click here:

more United kingdom business & economics news

CNBC news

For more news from CNBC, you can click here:

more news from CNBC

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about United kingdom business & economics, you might also like this article about

Finance Minister Rachel Reeves

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest spending cuts news, Budget announcement news, news about United kingdom business & economics, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

fiscal plans

CNBC

•

World

UK expected to unveil more spending cuts amid troubled times for the economy

Summary

Nutrition label

87% Informative

Britain 's Labour government will come under intense scrutiny on Wednesday as Chancellor Rachel Reeves prepares to update lawmakers on her spending and taxation plans and the outlook for the British economy.

Reeves is expected to announce billions of pounds worth of spending cuts as a way to close a budget shortfall caused by a rise in borrowing costs since her first fiscal plan, released last fall .

The finance minister has already vowed to stick to her self-imposed spending and debt rules.

Last October's autumn budget saw 40 billion in targeted tax rises to finance public services.

Reeves has repeatedly commented that she would not abandon her fiscal rules or raise taxes further for now.

There was widespread consternation in the British business community last fall when she raised the tax burden on businesses and employers.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity