Rachel Reeves Looks to Boost Fiscal Buffer at Crunch UK Budget

Chancellor of the Exchequer Rachel Reeves is looking to increase her fiscal buffer at the upcoming budget, as she seeks to bring down the UK’s borrowing costs and better insulate the government’s finances against market volatility.

Reeves wants to leave herself with more breathing space than the £9.9 billion ($13.2 billion) she gave herself against her main fiscal rule at the March spring statement, according to two people familiar with the matter, speaking on condition of anonymity because the deliberations are private. The chancellor is drawing up a package of tax hikes and spending cuts to achieve that aim, the people said.