LONDON (Reuters) – British finance minister Rachel Reeves said on Wednesday that she had rebuilt a 9.9 billion pound ($12.8 billion) fiscal buffer that was wiped out by weaker economic forecasts and rising borrowing costs since her first full budget last year.
The public finances have been strained by slow economic growth and higher-than-expected borrowing costs in financial markets driven largely by the policies of U.S. President Donald Trump.
Without measures taken by the government, Reeves said the government would have faced a deficit of 4.1 billion pounds.
Reeves is aiming to balance day-to-day public spending with tax revenues by 2030.
($1 = 0.7755 pounds)
(Reporting by David Milliken and Sachin Ravikumar, writing by Andrew MacAskill; Editing by Hugh Lawson)
