Reeves Raises UK Taxes by £26 Billion in Day of Budget Chaos

Chancellor of the Exchequer Rachel Reeves announced £26 billion ($34 billion) of tax increases in a budget that was meant to convey stability but left investors reeling when most of the key measures were accidentally released early.

The policies in the budget, in which Reeves more than doubled her key fiscal buffer to £22 billion, were posted online by the Office for Budget Responsibility about an hour before she rose to speak in the House of Commons. The OBR apologized and launched an investigation into the error, which Reeves described as “deeply disappointing.”

Still, the budget ...