Market News
Sterling set for best week in over three months on UK budget relief - REUTERS
By Ozan Ergenay
LONDON, Nov 28 (Reuters) - Sterling was heading for its best weekly performance in over three months on Friday, in a sign of relief among investors after British finance minister Rachel Reeves revealed her long-awaited budget earlier this week.
Reeves fought back on Thursday against criticism of the government's spending plans, which will fund extra welfare spending by raising the country's tax burden to a post-World War Two high. The government said it planned to raise taxes by 26 billion pounds ($34 billion).
