Starmer to embrace harsh financing reality

Watchful eye: Starmer (left) and Reeves with industry leaders at an investment summit in London. Reeves intends to borrow more and markets are watching for reassurances over the extent of the chancellor’s borrowing plans. — Reuters

LONDON: UK Prime Minister Keir Starmer says his government would “embrace the harsh light of financial reality,” as Chancellor of the Exchequer Rachel Reeves prepares to reveal a historic package of tax hikes and extra borrowing in a make-or-break budget tomorrow.

“It’s time we ran towards the tough decisions, because ignoring them set us on the path to decline,” Starmer was due to say in a speech yesterday, according to remarks pre-briefed by 10 Downing Street.