Rachel Reeves to Deliver Crunch UK Budget on November 26 (1)

Chancellor of the Exchequer Rachel Reeves will deliver the UK’s annual budget on Nov. 26, an event that looks increasingly critical for Keir Starmer’s struggling Labour administration.

The Treasury on Wednesday announced the date for the annual set-piece, which is shaping up to be a huge test for Reeves. Economists estimate she may need to raise taxes or cut spending by as much as £51 billion ($68 billion) to fill a black hole in the public finances and restore her current fiscal buffer of just under £10 billion. Recent movements in the gilts market that have pushed long-term borrowing costs ...