Economic data

Britain Tests the Limits With Plan to Tax Its Way Out of Debt

Bloomberg Markets30 October 2026, 05:00 UTCUnited Kingdom

Britain was singled out for praise by the International Monetary Fund this month for the boldest deficit-reduction plan of any Group of Seven nation. Bolder still is its decision to deliver the whole squeeze with higher taxes, with economists warning that Chancellor of the Exchequer John Healey is pushing the boundaries of what’s possible.

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