(Bloomberg) -- Rachel Reeves’ first challenge when it comes to delivering a delicately balanced UK budget at the end of the month is winning over an increasingly mutinous Labour Party.
Other plans include delivering on election pledges to raise taxes for rich foreign residents, foreign property buyers, private equity fund managers and private schools.
Planned changes to the debt measure informing Reeves’ fiscal rules will allow her to borrow tens of billions more for capital spending.
Reeves has informed banks and bond investors of the plan and received encouragement that they won’t react adversely, the people said.
One government official characterized Reeves’ approach as prioritizing the bond market over the Cabinet.

Reeves Puts Bond Market Over UK Ministers in High-Risk Budget