Reeves Says Her Plans Will Make UK Less Reliant on Bond Markets

Chancellor of the Exchequer Rachel Reeves said her ambition is to balance the budget in 2029, a more demanding target than her current fiscal rules as she pledged to make Britain less at the mercy of the bond markets.

“I want to give investors confidence we will continue to meet those fiscal rules — but we’ll do more than that,” she told bond investors in London on Tuesday. “We will have fiscal consolidation in every year of this parliament. It is very important to bring down borrowing costs.”

Rachel Reeves

Photographer: Jose Sarmento Matos/Bloomberg

She said her aim was to have tax revenue cover day-to-day ...