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flag UK Chancellor Rachel Reeves struggles with a budget crisis, facing borrowing costs over 4.6%.

flag UK Chancellor Rachel Reeves faces a budget crisis, with borrowing costs reaching 4.6%, surpassing levels seen during the Liz Truss-led mini-Budget. flag This economic strain could force Reeves to break her own fiscal rule against borrowing for daily spending. flag The budget buffer, initially at £10 billion, may shrink to just £1 billion, potentially leading to unpopular cuts in welfare and other public spending areas.

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