Markets need convincing on UK investment plans

Huge task: Reeves with red ministerial box containing her budget speech outside No. 11 Downing Street. Markets appeared sceptical about the budget revealed last week. — AP

London: Economist Jim O’Neill said markets still need convincing over the investment plans set out in Labour Chancellor Rachel Reeves’ first budget, after scepticism over her spending decisions helped drive up Britain’s borrowing costs last week.

“The whole thing is to boost investment spending but to make it better,” O’Neill said in an interview.