Reeves’s plan to ditch income tax rise prompts government bond sell-off
NegativeFinancial Markets

UK bond markets experienced a significant sell-off on Friday following the announcement that Rachel Reeves had abandoned plans to increase income tax rates in the upcoming autumn budget. This decision led to the highest rise in the cost of UK government borrowing in a single day since early July, when Reeves' emotional appearance in parliament had previously unsettled investors. The market's reaction indicates a negative sentiment towards the government's fiscal strategy.
— via World Pulse Now AI Editorial System

