UK Reeves hints at tax reductions after fiscal reset

UK Finance Minister Rachel Reeves declared that the country’s finances are “in order” following the October budget and hinted at a future focus on tax cuts and deregulation.

Speaking at the World Economic Forum in Davos on Wednesday, Reeves stated, “Now we have wiped the slate clean,” referring to the fiscal reset achieved by her budget.

She emphasised her priorities of fostering a business-friendly environment, adding, “My instinct is to have lower taxes, less regulation, make it easier for businesses to do business.”

The remarks align with her broader economic strategy to drive growth while managing fiscal sustainability.

Attribution: Reuters

Subediting: M. S. Salama