The U.K. government has unveiled a budget plan by Chancellor Rachel Reeves that includes spending increases and higher taxes on the wealthy and middle class. The measure has been welcomed by financial markets and Labour supporters, though its appeal to the general electorate remains uncertain.
Rachel Reeves, Britain’s chancellor of the Exchequer, carries a red box symbolizing the presentation of a new government budget on Wednesday in London. This marked the formal introduction of the budget plan, which aims to address public services and infrastructure while also tackling inequality through progressive taxation.