LONDON: British Prime Minister Keir Starmer promised reforms to speed up the economy and overhaul the public sector after the Labour government’s first budget failed to boost the growth outlook and sent government bond prices into a two-day dive.
Finance Minister Rachel Reeves announced a plan last Wednesday that included big increases in tax, borrowing and spending, but Britain’s budget watchdog judged that economic growth beyond next year would be weaker than it previously thought.
