UK's Autumn Budget Sparks Concerns Over Debt, Taxes

Ahead of the Autumn Budget, UK Chancellor Rachel Reeves is expected to announce significant fiscal changes, including increased borrowing for public investment, despite concerns over higher mortgage rates. The IMF has expressed support for public investment as a growth driver but cautioned against excessive debt. Reeves plans to raise £40 billion through tax hikes and spending cuts, with infrastructure as a priority. There is significant public concern over potential cuts to pensioner benefits and a proposed fuel duty increase, which could exacerbate financial burdens. While the IMF has upgraded the UK's growth forecast, it warns against rapid fiscal adjustments that could harm economic activity.