Rachel Reeves Budget U-Turn Puts UK in a Tax Death Spiral

The gilt market is voting with its feet again following reports that UK Chancellor of the Exchequer Rachel Reeves will make a major U-turn on her plans to hike income taxes in this month’s budget.

Investors are closely watching these developments, as changes to tax policy can have significant impacts on government borrowing and bond yields. The shift in strategy suggests a possible reassessment of fiscal priorities in response to market pressures.

This potential change comes amid ongoing economic uncertainty, with the government balancing the need for revenue with concerns over economic growth and market confidence. Stay tuned for further updates as the budget announcement approaches.
https://www.bloomberg.com/opinion/articles/2025-11-14/budget-rachel-reeves-income-tax-u-turn-puts-uk-in-a-death-spiral

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