UK’s Reeves says she hopes to avoid tax rises before next budget

British finance minister Rachel Reeves said on Tuesday ⁠she hoped ⁠to get to the next budget without raising taxes ⁠and that the government now had enough fiscal headroom to withstand economic shocks.

“We made a decision to significantly ⁠increase ⁠the headroom against our fiscal rules,” Reeves said at a Financial Times conference in London. “I believe that that ⁠was the right decision.”

She also signalled a further “uplift” in defence spending in the government’s Defence Investment ⁠Plan, ‌due ‌to be ⁠published before ‌NATO’s summit in July.