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UK's new finance minister Reeves lines up tax hikes and borrowing in first budget - REUTERS
- New government's first budget set to raise taxes
- Labour likely to target businesses, richer Britons
- Borrowing also expected to rise to fund investment
- Reeves' budget announcement is due at 1230 GMT
LONDON, Oct 29 (Reuters) - Britain's new finance minister Rachel Reeves will announce what may be the biggest tax hikes in three decades on Wednesday in a bid to fix the country's sagging public services, alongside billions of pounds of extra borrowing to overhaul the economy.
The Labour government is betting that its first budget after 14 years of Conservative rule can fund its election pledges without triggering the kind of bond market chaos that brought down former prime minister Liz Truss in 2022.
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