Rachel Reeves was able to ditch a manifesto-busting plan to raise income tax rates in the Budget because of favourable changes in forecasts from the UK’s fiscal watchdog, government figures said on Friday.
But politics undoubtedly played a big part in the chancellor’s decision to back away from a tax increase that would have provoked deep unease among restive Labour MPs and risked a voter backlash.
With less than two weeks until the fiscal event, a sell-off in government bonds on Friday underscored how rattled the U-turns have left investors.
您已阅读9%（547字），剩余91%（5561字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。