UK economy stumbles before budget

MEASURES OF BRITAIN'S businesses, consumers and public finances are all showing signs of deterioration in the run-up to next week’s budget when finance minister Rachel Reeves is expected to raise taxes again.

- DAVID MILLIKEN, ANDY BRUCE& WILLIAM SCHOMBERG

Data released on Friday suggested that worries about the budget are weighing on the world’s sixth-biggest economy and underscored the scale of the challenge for Reeves as she tries to cut borrowing without further slowing weak growth.

The S&P Global Purchasing Managers’ Index preliminary survey for November showed companies were pausing their plans while they waited to see if their taxes will go up for a second year running.