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The Independent UK

Business

Jeremy Cutler

Stocks rise, pound firms after ‘tolerable’ Budget

Rachel Reeves Budget OBR Andrew Wishart London Oil

Chancellor Rachel Reeves, right, increased taxes by £26 billion to bolster her fiscal headroom against future economic shocks (Luke Jones/PA) - (PA Wire)

The FTSE 100 rose, the pound strengthened, while gilt yields fell on Wednesday as financial markets gave a guarded welcome to Rachel Reeves’s Budget.

The Chancellor increased taxes by £26 billion to bolster her fiscal headroom against future economic shocks, a move welcomed by analysts, although questions remain.

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