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Investing.com -- British finance minister Rachel Reeves said on Thursday she would like to have a bigger fiscal buffer to cope with volatile global markets, but creating one in her upcoming budget would involve trade-offs on tax and spending.
"Would I like more headroom? Of course I would. But that does come with trade-offs because more headroom requires more tax revenue or less spending on public services like the NHS, so you’ve got to get the balance right there," Reeves told reporters.
The finance minister’s comments come ahead of her budget presentation next month, where she will need to balance fiscal responsibility with the government’s spending priorities.
Reeves indicated that while a larger buffer would be desirable to help manage market volatility, such a move would necessitate either increasing tax revenue or reducing expenditure on public services, including the National Health Service.
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